Bank of Lithuania
2018-03-02
  • Fotolia_66401006_Subscription_Monthly_M.jpg
     
1 of 1

A consortium of the central banks of three European Union countries – Lithuania, Poland and Germany is implementing a 1.5-year Twinning project aimed at strengthening the capabilities of the National Bank of the Republic of Belarus in carrying out its main functions in several important business areas.   The project’s introductory meeting – a conference in Minsk took place this week, and the first advisory works started.  

‘This project widens our long-term bilateral cooperation with the National Bank of the Republic of Belarus. It is the first EU Twinning programme project to the implementation of which the Bank of Lithuania contributes. We expect to successfully implement this mission beyond the EU, important for Europe and Belarus, by conveying, together with the consortium colleagues, EU central banking experience,’ said project manager Gitana Kaminskienė of the Bank of Lithuania upon return from Minsk.  

The value of the European project for the National Bank of the Republic of Belarus is EUR 1.15 million. Heads of two units at the Bank of Lithuania coordinate the consortium experts’ work in the fields of financial stability and banking supervision.  Another 12 Bank experts convey their experience and help Belarussians on the issues of payment systems, banking supervision, finance consumer protection, communication policy. The plan is that the representatives of the Bank of Lithuania will assign 21 days for the project.  

According to Lithuania’s Ministry of Foreign Affairs, provision of aid to other countries under the Twinning programme is beneficial for both institutions implementing such projects and their employees, and the country they represent, since it helps implement strategic goals of foreign policy which are related to a good partnership and neighbourhood relationship, thus improving the image of the Lithuanian State and its institutions in foreign countries.