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EU launches first ever Twinning project in Belarus with support for Central Bank

December 26, 2017

The first ever EU Twinning project in Belarus was signed on December 22, aimed at strengthening the capacity of the the National Bank of Belarus (NBRB).

With a budget of over €1 million, the project aims at supporting Belarus' sustainable economic growth by improving the capacity of the NBRB to address the major challenges it faces as an independent central bank.

According to a press release from the EU, strengthening the professional capacity of the staff of the NBRB will in the long-term bring economic stability and stronger banking supervision, leading to more trust in economic governance. The focus is on delivering results for citizens, who will benefit from the institution's capacity to bolster competitiveness, support investments and secure innovation-driven development.

Set to start in the first quarter of 2018, the project counts on the expertise of the German Bundesbank as the main partner and of the Central Banks of Poland and Lithuania as junior partners. The wide variety of experiences that these Central Banks represent (small or bigger countries, euro zone or own currency) will bring the best European practices to Belarus.

Twinning is a long-term, institution-building instrument that uses institutional cooperation to help partner countries acquire the necessary skills and expertise to approximate EU legislation. Established in 1998 to support candidate and potential candidate countries in their accession efforts, Twinning was launched in 2004 also in countries covered by the European Neighbourhood policies.

The countries covered include Algeria, Armenia, Azerbaijan, Egypt, Georgia, Israel, Jordan, Lebanon, Moldova, Morocco, Tunisia and Ukraine, and now also Belarus.

Find out more

Press release



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