2018-03-02
Bank of Lithuania engaged in the implementation of the EU Twinning project in Belarus
A consortium of the national central banks of three EU countries – Lithuania, Poland and Germany – began the implementation of a 18-month Twinning project aimed at enhancing the capacity of the National Bank of the Republic of Belarus to effectively pursue its core responsibilities in several key areas. A kick-off conference took place this week in Minsk, setting the project on track and counting on the expertise of the Bundesbank as the main partner and the national central banks of Poland and Lithuania as junior partners.
“This EU Twinning project extends the long-term bilateral cooperation between the Bank of Lithuania and the National Bank of the Republic of Belarus. This will be the first time that the Bank of Lithuania contributes to the implementation of the Twinning project. We expect to successfully complete this cross-border mission that holds great importance for both Europe and Belarus. Together with our consortium colleagues, we will share the best practices of the EU central banks,” concluded Gitana Kaminskienė, Project Manager at the International Relations Department of the Bank of Lithuania and the Lithuanian Co-project Leader, upon her return from Minsk.
The overall envelope of the Twinning project is €1.15 million. The consortium experts’ work in the fields of financial stability and banking supervision is coordinated by the heads of two Bank of Lithuania units, while 12 more experts share their experience with the Belarusian counterparts in in the fields of payment systems, financial stability, banking supervision, consumer protection and communication policy. The representatives of the Bank of Lithuania will assign a total of about 251 days for the implementation of this project.
According to the Ministry of Foreign Affairs of the Republic of Lithuania, provision of aid to other countries under such Twinning projects is beneficial for both the participating institutions and their employees as well as the country they represent, as they help implement strategic foreign policy goals related to partnership and neighbourhood relationship, thus improving the image of the Lithuanian state and its institutions in foreign countries.