Minsk, Belarus, May 6, 2009—Leading
Belarusian companies have the ability to significantly reduce their energy
costs , which could increase their global competitiveness over the next
few years, according to a new report from IFC, a member of the World Bank
Belarus can take advantage of its energy-efficiency
potential by decreasing the energy intensity of its economy, increasing
industrial competitiveness, and contributing to a cleaner environment,
according to the report, which was based on a survey of 125 local companies.
The survey showed that companies remain reluctant to approach banks and
leasing companies to seek financing for energy-efficiency projects—even
though 86 percent of the companies that sought financing were able to obtain
The report, “Energy Efficiency in Belarus,”
says that industrial enterprises can finance and implement increasingly
ambitious energy-efficiency action plans that would allow them to reduce
their energy costs by at least 20 percent within three years.
The report is based on a study conducted
by IFC in 2008. It is designed to provide state officials, the business
community, and other interested parties with a comprehensive analysis of
Belarus’ energy-efficiency potential, and makes recommendations for tapping
that potential. IFC recommends improving awareness of ways to achieve energy
efficiency, reducing the bureaucratic burden on enterprises, and utilizing
external financing for acquiring energy-efficient equipment.
"Belarusian industry is underestimating
the significant energy-efficiency potential and the funds they could save
by improving their energy consumption,” said Bryanne Tait, who oversees
Environmental & Social Sustainability for IFC in Europe and Central
Asia. “To tap this potential, industrial enterprises need to increase
their expertise on energy efficiency. The government should also become
much more engaged in improving the regulatory environment to foster energy
efficiency, thus helping to ensure the country's sustainable growth and
Belarus became a shareholder and a member
of the IFC in 1992. Since then, IFC has implemented several advisory projects
and has invested more than $185 million in the financial and real sectors.
For more information, visit www.ifc.org/europe/belarus.
The report is available online at: http://www.ifc.org/ifcext/ueep.nsf/Content/ProgramMaterials.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $16.2
billion in fiscal 2008, a 34 percent increase over the previous year. For
more information, visit www.ifc.org.