On April 24, 2019 the Cooperation Agreement was signed between the Ministry of Antimonopoly Regulation and Trade (MART) and the International Finance Corporation (IFC)

On April 24, 2019 the Cooperation Agreement was signed between the Ministry of Antimonopoly Regulation and Trade (MART) and the International Finance Corporation (IFC) within the framework of the Memorandum of understating between MART and IFC.

For reference: Since 2018, the Republic of Belarus has been implementing the current IFC Advisory program to improve the business environment with the support of the European Union and the Swedish International Development Cooperation Agency (SIDA). IFC provides advisory services to the Government to promote the development of the private sector in Belarus, including by strengthening market competition.

According to the Agreement, the preparation and implementation of the Competition Development Program in the Republic of Belarus (the Program) and Road maps for the development of competition in certain sectors of the economy are defined as the strategic direction of cooperation between MART and IFC. The purpose of the Program – the formation and development of a competitive environment and attracting investment, which ultimately will serve as an additional impetus for the sustainable development of the Republic of Belarus economy in the long term.

In addition, the Agreement approved an Action Plan providing for:

• preparation of data and calculation of the index of competition conditions in key industries for the Republic of Belarus «OECD Index – Regulation of goods and services markets»;
   
• works on improvement of the Antimonopoly legislation of the Republic of Belarus taking into account the international experience, preparation of recommendations on improvement of the sectorial legislation, including the exception of the norms limiting competition;
   
• development of a methodology for assessing the impact of regulatory legal acts on the competition conditions;
   
• conducting a set of training activities in the field of competition and antimonopoly regulation for a wide range of listeners: representatives of business, employees of the antimonopoly authority, state bodies of various levels, representatives of the judicial system, as well as the teaching staff of higher educational institutions of the Republic of Belarus;
   
• holding of international conferences and events on competition advocacy among representatives of state bodies and business, including the preparation and distribution of information materials on the requirements of antimonopoly law and the importance of competition development.
   

The agreement is valid from the date of its signing by the parties until December 31, 2021.

IFC is a World Bank Group organization, a major global development institution focused on supporting the private sector in the countries with emerging markets.. IFC cooperates with more than 2000 businesses worldwide, using capital, experience and influence to create markets and new opportunities in the most difficult regions of the planet. In fiscal year 2018, IFC provided developing countries with more than $ 23 billion in long-term financing, effectively harnessing the power of the private sector to liquidate extreme poverty and increase overall well-being. The total amount of financing provided by IFC within the framework of investment activities in the Republic of Belarus, amounted to $ 760 million in 60 projects. IFC also provides advice to the Government of the Republic of Belarus, other state bodies and organizations, private business on improving the investment climate, improving the business environment and the development of the private sector.