The World Bank plans to co-finance projects that receive funding from the EurAsEC's anti-crisis fund, the World Bank's vice president for Europe and Central Asia, Philippe Le Houerou, told journalists.
Le Houerou said that this process was still in its early phases. He added that discussions have been active and a memorandum of understanding has already been signed in which the World Bank expresses its readiness for partnership.
The World Bank intends to take part in the co-financing of the fund's projects, since such partnership is in the interest of all participants from the countries themselves receiving assistance and the organizations involved, which will be able to improve their institutional structures.
Le Houerou added that in order for these efforts to be as productive as possible, it would be necessary to stimulate partnerships with other organizations, not only just the World Bank but also a range of structures, which are ready for such co-operation.
He said that the World Bank employs this approach in its work in all countries when the organization attempts to develop partnerships with other organizations and structures, which also finance development. Le Houerou said that the World Bank was pleased that such work is already underway in Russia and Central Asia such mechanisms and channels of support are still limited.
Le Houerou stressed that the fund's creation shows that Russia is playing very important role as a donor, which will become more substantial in the future. He added that this was a brave step to take during the current economic crisis, as well as a wise one since funding support is needed during such situations.
He said the World Bank supported for the fund's aims, saying that they, along with the fund's general principles, are firm and definite.
