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Economy
17 January 2020, 18:16

Another contest of small business investment projects open in Belarus

MINSK, 17 January (BelTA) – The Belarusian Fund for the Financial Support of Entrepreneurs will accept applications from small businesses for taking part in a contest of investment projects through 30 January. Winners will get financial support from the state, BelTA learned from the Belarusian Economy Ministry website.

Small businesses, which are registered and operate in Belarus and are eligible for state financial support in line with presidential decree No.255 “On some measures of state support for small entrepreneurship”, are invited to participate in the contest.

The eligible investment projects have to focus on: creation, development, and expansion of production of goods and services; organization, development of production, sales of an export-oriented, import-substituting products; production of energy- and resource-saving products; assimilation of new technologies.

State support will be granted as loans of up to Br216,000 and properties worth up to Br216,000 on financial lease terms. The total sum of financial support per commercial entity cannot exceed Br270,000.

Winners will have to return the loans over the period of up to five years.

The Belarusian Fund for the Financial Support of Entrepreneurs intends to spend a total of over Br781,800 to provide state financial support to the winners.

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