28 March 2019, Minsk, Belarus
On-line conference broadcast can be viewed
Is Belarus ready for impact investment? Watch the video about the key outcomes of the Forum
About the 

Aim: The Forum is designed to stimulate social impact investment growth and support active engagement of the business community into SDG achievement in the country:


  1. Present best foreign practices of impact investment.
  2. identify key sectors for impact investment development in the country.


  1. Impact investments.
  2. SDG and corporate social responsibility.
  3. Accelerators of sustainable development.
  4. Partnership for SDG achievements.
  5. Sustainable and innovative business solutions.
  6. Green funding.

The Forum serves as a platform to find impact investment entry points and present investment packages across four SDG accelerators, identified by leading economists and endorsed by the government:

  1. Green transition towards inclusive and sustainable growth.
  2. Future generation orientation.
  3. Digital transformation and social innovations.
  4. Gender equitable society.

The impact investment packages are fully aligned with the Belarusian legal context and outline the potential impact of the projects and return on investment for businesses.

The Forum also profiles a growing list of companies that are capturing their existing contribution to SDG achievement, given the considerable and increasing public interest in the subject.


  1. Business communities
  2. Governments
  3. International development partners
  4. Start-ups and social enterprises
  5. International experts in impact investment
  6. Financial institutions, including the National Bank of the Republic of Belarus and the Development Bank of the Republic of Belarus
  7. Investment agencies and institutions
  8. NGOs
  9. The mass media

What is impact investment?

Impact investment has gained worldwide traction as a method of solving development challenges in a more sustainable way. The Global Impact Investing Network (GIIN) identifies impact investments as investments made with the intention of generating a positive, measurable, social and environmental impact alongside a financial return. Over the past few years impact investment has grown from niche to almost $23 trillion of investments worldwide managed under environmental, social and governance standards.


In 2015 more than 150 world leaders adopted the 2030 Agenda for Sustainable Development and opened up a new era for the Sustainable Development Goals (SDGs). The SDGs call for worldwide action among governments, businesses, international organizations and civil society to make economic growth socially and environmentally sustainable.

The SDGs represent a truly ambitious undertaking and an opportunity for the world to chart a more sustainable path, however, estimates of cost implementation range from US$5-7 trillion. When viewed alongside traditional ODA budgets of around $150 billion annually, the scale of the undertaking and ambition becomes apparent.

Clearly the SDGs cannot be achieved without the robust participation of the business community and private capital – of which there is currently $256 trillion under management. Just 1.5% of this would meet the financial gap for the SDGs. But what about business’ interest? Why does the private sector need the SDGs?

According to a study carried out by the OECD, investing in the SDGs globally could help generate $12 trillion of value to businesses, while business opportunities associated with them could put 380 million people into work by 2030.

Fundamentally, the SDGs represent an excellent investment opportunity, a means of enhancing sustainability and a way of opening up new revenue streams.

Tej Dhami

Tej is an equity investment and enterprise development expert with a career spanning investment banking, equity fund management and social enterprise incubation across developed and developing markets. Having funded, supported and built social enterprises she brings a unique perspective and deep-rooted experience of the challenges of scaling social impact. She is a leading figure in the UK impact investing sector and has worked on SIBs in homelessness, childrens’ care, employment and health. Her most recent publications include a report on innovative financing to address humanitarian crises. https://numbersforgood.com/insights/new-financing-partnerships-for-humanitarian-impact/

Pyykkö, Mika

Mika is a Master of Social Sciences from The University of Tampere. Nowadays he works as a Project Director in Finnish Innovation Fund Sitra.

Mika leads Sitra's development operations of impact investing. As the result of team work lead by Mika, there are for example currently six SIB and one EIB projects (theme funds) underway or set for launch in Finland. Mika’s team works also very much in terms of economy of well-being and social outcomes contracting for Finland’s EU Presidency during the second part of 2019

Mika has previously worked in leadership positions in organizations such as Finland's Slot Machine Association from 2008 to 2012 and the Finnish Centre for Health Promotion between 2003 and 2008 He has worked and still works in Finland and abroad, particularly as a champion of health and well-being promotion and preventative action. In addition, Mika has been engaged in the development of collaboration between the public, private and third sectors. One of Mika's most public achievements is the National Heart Symbol system (food labelling) – he headed its development and start-up when working for the Finnish Heart Association between 1995 and 2003

Mika believes very strongly, that it is important to be aware of the multidimensional potential of collaboration between private and public sectors in order to implement proactive and preventative work in terms of well-being and environmental issues and also to be bold in seeking new opportunities to act, rather than getting bogged down in listing the risks and snags.

Sergey Golubev

Sergey is a Head of the Social Investment Fund in the Russian Federation. He is the leading Russian expert in the field of social investment, entrepreneurship and design. Sergey is the Candidate of Sociological Sciences, Professor of Practice at the Russian Economic University named after G.V. Plekhanov. He is the author of four books and of more than 50 publications on social innovation. Sergey is also a co-author of the first Russian acceleration program for social entrepreneurs that is actively replicated in the regions of Russia as part of the Social Innovation Centers establishment.

Sergey Golubev is the Chairperson of the Social Entrepreneurship Commission, the member of the Board of the OPORA Rossii, member of the expert council of the Agency for Strategic Initiatives, the Head of the social entrepreneurship expert group of the Ministry of Economic Development of Russia, the Head of the social finance working group of the All-Russian Civil Forum, the member of the Institute of Social Design pf the Russian Economic University named after G.V. Plekhanov, the member of the Council for Social Innovation of the Federation Council.

For more than 15 years, Sergey has been developing and promoting the institute of social entrepreneurship in the regions of Russia, preparing social entrepreneurs in single-industry towns, in the territories where large businesses are present, preparing trainers for social entrepreneurship and developing the institution of social investment in Russia.

Sergey holds a Master's degree from the University of Manchester in the UK.

Markus Bodenmeier

Markus is co-founder and Chief Financial Officer of the Munich-based AQAL Group. The AQAL Group implements the UN SDGs Within Planetary Boundaries by investing in exponential-tech, energy efficiency, and renewable energy. The AQAL AG is a multi-family office founded by serial entrepreneurs and investors Markus Bodenmeier, Dr. Mariana Bozesan (International Club of Rome Member), Tom Schulz and Jens Pause. Our mission „The Parity of People, Planet, and Profit — with Passion and Purpose“ highlights the integration of impact and profit. For more information on AQAL, the team behind and the investment turnaround feel free to have a look here aqalgroup.com

AQAL’s largest project is NDC Data Centers. The demand for ever bigger data centers is growing exponentially. Using a proprietary cooling technology and lean construction processes NDC reduces CAPEX and OPEX, as well as energy and resource consumption: -50% cooling power, -50% concrete, -20% steel.

Marianna Shchetkina

Deputy Chairman of the Council of the Republic of the National Assembly of the Republic of Belarus National Coordinator for SDGs in Belarus

Mrs. Marianna Shchetkina was recently appointed the National Coordinator for SDGs in Belarus in May 2017 She currently serves as the Deputy Chairman of the Council of the Republic of the National Assembly of the Republic of Belarus under the 6th convocation from the City of Minsk.

Prior to the appointment of her position in the Council of the Republic of the National Assembly, Mrs. Shchetkina was the Minister of Labour and Social Protection from 2009-2016. She is also the Chairman of the Belarusian Women’s Union. Throughout her service with the government, she has been a key figure in enabling the progress of issues including family planning, women’s participation in the labour market, as well as social welfare development.

Mrs. Shchetkina graduated from the Leningrad State University in 1982 with a Bachelors degree in Physics and started her career as an engineer at the North Branch of the Institute of Acoustics, Severomorsk, Murmansk Province. She then became a physics teacher at two grammar schools in Belarus before taking on senior-management positions with the Minsk City District Administration. She also holds two specialized research degrees in State Administration of the Social Sphere and Management Sociology respectively, with the Academy of Public Administration under the aegis of the President of the Republic of Belarus.

She has been awarded the Order of Honour, Jubilee Medal, Certificate of Honour of the National Assembly of the Republic of Belarus, Certificate of Honour of the Council of Ministers of the Republic of Belarus, Certificate of Honour of the Eurasian Economic Community, and Medal “For Cooperation” (Union State).

Andrei Zhishkevich

Chairman of the Board of the Development Bank of the Republic of Belarus from December 2018.

In 1995 Andrei Zhishkevich graduated from the Belarusian State University with a degree in computer software and automated systems, economic cybernetics. In 1998 he graduated from the Department of Law of the Belarusian State University, and in 2002 from the post-graduate school of the Research Institute of Economics of the Ministry Economy of Belarus. Andrei holds a PhD Degree in Economics. From 1995-1999 he held various positions at Belvnesheconombank. From 1999 to 2001 - Head of the Crediting and Project Financing Department of the Crediting and Investments Department, Deputy Director of the Crediting and Investments Department - Head of the Crediting and Project Financing Department of the “Bank of International Trade and Investment” CJSC. From January to July 2002, Andrei served as a Director for Development and Analysis of CJSC “Meteor-D”; from 2002 to 2005 – a Deputy Chairman of the Board of CJSC “Minsk Transit Bank”.

Joanna Kazana-Wisniowiecki

Ms. Joanna Kazana-Wisniowiecki is the United Nations Resident Coordinator in Belarus. Before assuming her current post in May 2018, she worked in UNDP headquarters in New York liaising with UNDP offices and UN Member States across the Eurasia region in building programs and partnerships for development. In 2005-2010, Ms. Kazana-Wisniowiecki worked in UNDP office in Ukraine as Deputy Resident Representative. She also served in UNDP offices Lithuania and Poland.

Ms. Kazana-Wisniowiecki is Polish, has a Master’s Degree in Economics and International Relations. She speaks English and Russian.

Olga Shcherbina

Head of Office of the International Finance Corporation (IFC) in the Republic of Belarus

Graduated magna cum laude from Minsk State Linguistic University (1999), Master’s degree from the School of Business and Management of Technology of the Belarusian State University (2006). Holds an MBA degree from the University of Mississippi, USA (2008).

Has worked in IFC since December 2004 – in IFC advisory projects aimed at development of the private sector in Belarus, enabling business environment and improvement of investment climate, small and medium business support, boosting competitiveness and export opportunities of Belarusian companies. Has worked in Belarus, the USA, countries of Central Asia.

Since November 2012, has been the Head of IFC Office in Belarus.

Taisiya Yeletskikh

Consultant on Impact Investment in UNDP, Republic of Belarus

Yeletskikh Taisiya is a Candidate of Economic Sciences, Associate Professor, business consultant and the expert in social and economic development.

She has profound experience in teaching Economics, scientific research, business planning. Taisiya managed a number of technical assistance projects in business development, corporate social responsibility (CSR), socially responsible restructuring, tax consulting, and social entrepreneurship.

Taisiya is the author of 80 publications and monographs, including those done for foreign audiences. She is also the author of the book «Social Impact Investments: Essence, Foreign Experience and Efficiency Evaluation Methodology», prepared with the UNDP support.

Taisiya was among initiators of the promotion of the UN «Global Compact Initiative» in Belarus. Since 2008 she has been a jury member, a chairperson of the «Brand of the Year» Contest in the «Socially Responsible Brand» nomination.

In 2014 she was awarded a «Person of the Year» Winner Award in the field of corporate social responsibility.

Philipp Brunner

CEO Stadler Minsk, Minsk, Belarus

An experienced executive manager with international background in management of large organizational structures, large-scale projects, sourcing and supply chain and industrial manufacturing. Mr. Brunner has multi-cultural experience as an executive leader (CEO, COO). He fluently speaks four languages: German, English, Russian and French. Mr. Brunner has a profound experience in management of large-scale projects (> US$ 300 million) and eight years of management experience, including five years of managing 600+ employees.

Andrey Roshchupkin

First Deputy Director General of the Coca Cola Beverages Belorussiya FE, Chairman of Supervisory Board of the Association of European Businesses, Chairman of the Board of the New Eurasia Foundation. Supervised the legal service of a number of commercial organizations, worked in the insurance business for many years.

Eugeny Lobanov

Eugeny is the Director of the Center for Environmental Solutions and the Program Manager for Chemicals and Waste.

He actively promotes the issues of pollution prevention, waste reduction and recycling Zero Waste concept. Eugeny also opposes waste and chemical substances that are harmful to human health and the environment. He is an advocate of an environmentally friendly lifestyle.

Denis Krymov

Denis is a graduate of the Faculty of Energy with a degree in Automation and Management of Energy Processes of the Belarusian National Technical University.

From 2008 to 2017, he worked at Santa Bremor LLC in various positions, including a Power Technician, a Power Engineer, the Leading Power Engineer, a Deputy Chief Power Engineer, and the Chief power Engineer.

From 2017 to the present, Denis works as the Chief Energy specialist of the Joint Venture Enterprise “Santa Impex Brest”. Denis is keen on sports and loves traveling.

Yulia Amelchenya

National consultant for the GEF-UNDP-Ministry of Environment "Green Cities" project in the field of “green” procurement. She is an associate professor of the Department of Civil and Economic Law of The Academy of Public Administration under the aegis of the President of the Republic of Belarus. Yulia is a member of the working group of the House of Representatives of the National Assembly of the Republic of Belarus on the Law of the Republic of Belarus “On public procurement of goods (works, services)”.

Yulia is a mediator of the “Mediation and Law” Centre of the Belarusian Republican Union of Lawyers, a member of the Scientific Advisory Board at the Economic Court of the Commonwealth of Independent States, a member of the research team at the National Center for Law and Legal Research. The themes of her research projects are “Theoretical and applied aspects of implementing the principles of civil law in the context of the functioning of the Eurasian Economic Union”.

Yulia is the author of about 40 publications and is a leading expert in the field of public procurement and “green” procurement for organizations of various forms of ownership.

Aliakandr Skrabowski

Сo-founder DOBRA Foundation

Aliaksandr managed business-projects such areas as real estate development, finance b2c web-project, R&D in early diagnosis of cancer, agricultural production. He's also been working with startups as an expert, mentor, and co-investor. Since 2013 he joined the team of Social Weekend and he leads the event nowadays. Social Weekend is the largest contest of social projects in Belarus. The number of project- participants has already exceeded 3000 Since 2017 Aliaksandr also manages UN Global Compact Network Belarus.

Dmitry Garin

Director for Digital Transformation, Rybakov Fund.

Dmitry is a manager and entrepreneur with 25 years of experience in the IT industry. He began his career as a programmer at Storm International, and within the next 11 years he grew up to a Vice President of Technology supervising a department with 230 staff. Dmitry launched several cross-cutting startups in education, digital technology and multimedia - including the brand Hyperboloid Records, recognized by the international community as the leader of e-music from Russia. He aslo implemented several large digital transformation projects in Yota, Yammer, Microsoft and MALLTECH. Currently Dmitry holds a position of a Director for Digital Transformation in the Rybakov Foundation.

Philip Zimmermann

FIFA Grassroots & Youth Development Manager.

After teaching innovation methods at the HPI School of Design Thinking he graduated from the postgraduate International Master in Management, Law and Humanities of Sport, organised by the International Centre for Sport Studies (CIES). After joining FIFA he was in charge of the implementation of domestic youth leagues worldwide in countries where the football club structure did not offer opportunities for young football players to get enough playing time.

Currently he is responsible of the role-out of the Football for Schools programme of FIFA to allow boys and girls to access football in primary schools.

Dmitry S. Kalinin

Director of the Belarusian Innovative Foundation.

Managing Partner and Member of the Investment Committee of the Russian-Belarusian Venture Capital Investment Fund;

Chairman of the Board of Directors of Limited Liability Company “Venture Company “Center for Innovative Technologies of EurAsEC”;

Member of the Public Advisory (Expert) Council for the development of entrepreneurship in science, technology and innovation spheres under State Committee on Science and Technology of the Republic of Belarus;

Member of the working group on the preparation of a regulatory legal act on the development of instruments aimed at creating a system of venture activities in the Republic of Belarus;

Science writer of more than 80 research papers in the field of business internationalization.

Trusday, 28 March 2019
09.00 – 10.00 Registration of participants
09.40 – 10.00 Communication with the media
10.00 – 10.45

Key-note speeches

Host: Why impact investing matters? Mr. Zachary Taylor, UNDP Resident Representative a.i. in Belarus

Moderator: Mr. Sergei Kharitonov, journalist

  1. Progress of Belarus in the implementation of the Sustainable Development Goals, Ms. Marianna Shchotkina, National Coordinator on Implementation the Sustainable Development Goals, Deputy Chairperson of the Council of Republic of the National Assembly of the Republic of Belarus

  2. Financing the Sustainable Development Goals, Ms. Joanna Kazana-Wisniowiecki, United Nations Resident Coordinator in Belarus

  3. Investing into sustainable economic growth in Belarus, Mr. Dmitry Krutoy, Minister of Economy of the Republic of Belarus

  4. Social component in the Development Bank of the Republic of Belarus lending programs for small and medium enterprises, Mr. Andrei Zhishkevich, Chairman of the Board of the Development Bank of the Republic of Belarus

10.45 – 12.15

Session 1: Impact investment for opening new markets and revenue streams

Moderator: Mr. Ivan Zverzhanovski, Team Leader, New Partnerships and Emerging Donors,, UNDP Istanbul Regional Hub

  1. How to create a favorable ecosystem for impact investment: Foreign experience

    Ms. Tej Dhami, Managing Director, Change Coefficient, United Kingdom

    Mr. Mika Pyykkö, Project Director, Impact Investing, Finnish Innovation Fund Sitra, Finland

    Mr. Sergey Golubev, Director General, Social Investment Foundation, Russian Federation

    Mr. Markus Bodenmeier, Co-founder, Member of the Management Board AQAL AG, Germany

  2. Impact investments: principles of impact management, Ms. Olga Shcherbina, Head of International Finance Corporation Office in Belarus

12.15 – 12.45 Coffee-break and exhibition
12.45 – 14.15

Session 2: Emerging impact investment opportunities in Belarus

Moderator: Ms. Taisiya Yeletskih, UNDP expert on social impact investments

  1. SDGs impact investment business cases, Mr. Alexander Chubrik, Director, IPM Research Center

  2. Moderated discussion on investment opportunities in the accelerator areas:

  3. Green economy, Mr. Evgeny Lobanov, Director, Centre for Environmental Solutions

    Investment proposal for the construction of a wind farm, Ms. Marina Belous, Manager of UNDP/GEF Project "Removing barriers to wind power development in the Republic of Belarus"

    Digitalization in manufacturing. Investment project Stadler, Mr. Philipp Brunner, CEO, Stadler Minsk

    FIFA investment into healthy lifestyle choices through football, Mr. Philip Zimmermann, Grassroots & Youth Development Manager, FIFA

    Future generation orientation, Mr. Andrei Roschupkin, First Deputy Director General, Coca-Сola Beverages Belarus Company

    Gender equitable society, Ms. Isabelle Laurent, Director of Treasury and Head of Funding, European Bank for Reconstruction and Development

14.15 – 15.15 Lunch
15.15 – 16.45

Panel discussion: Experience from the ground: case studies of existing impact investment

Moderator: Alexander Skrabowski, Head of UN Global Compact Office in Belarus, Director of Dobra Foundation, Coordinator of the SDG Partnership Group for Cooperation with Business

  1. Coding as the new literacy, Mr Alexander Martinkevich, Deputy Director, Hi-Tech Park Administration

  2. Investment in the future: OK16, Mr Georgy Zaborsky, Deputy Head of Administrative Department, Belgazprombank

  3. Support of innovative entrepreneurship in Belarus, Mr. Dmitry Kalinin, Director, Belarusian Innovation Fund

  4. Modernization and green proofing of industrial technologies: Santa Bremor case, Mr. Denis Krymov, Chief Energy Officer, Santa Bremor

  5. Green procurement: international practice and implementation opportunities in Belarus, Ms. Julia Amelchenya, Associate Professor at the Academy of Public Administration under the aegis of the President of the Republic of Belarus

16.45 - 17.00

Concluding observations, Mr. Zachary Taylor, UNDP Resident Representative a.i. in Belarus

17.00 Networking Cocktail
Presentations of Guest Speakers
Invest in Belarus Guidebook
A Roadmap for SDG Implementation in the Republic of Belarus
Unlocking digital and green investment
Sustainable Development Goals: An overview of targets and indicators from a gender perspective UNDP Istanbul Regional Hub