Belarus' Development Bank continues to support SMEs in regions

MINSK, 9 March (BelTA) - The Development Bank of the Republic of Belarus (DBRB) continues to support small and medium-sized businesses in the regions, BelTA learned from the bank's press service.

This year, the Development Bank continues to implement a program to support small and medium-sized businesses. "The Bank's policy is built around the priorities of the medium-term social and economic policy and the tasks of the social and economic development of the country for 2023. This means that the policy towards investment, export and import substitution remains in place. In 2023, financing will be provided for five products at a rate from 7% to 11% (the rate depends on the refinancing rate)," the press service said.

Particular attention is paid to the districts that are not leaders of social and economic development. For SMEs registered or operating in such districts and the south-eastern districts of Mogilev Oblast and Orsha District, the Bank provides lending at a rate of 7% per annum. These resources have already been made available and are being actively utilized, the press service informed.

The public joint-stock company (OAO) Development Bank of the Republic of Belarus is a specialized financial institution, which was established in 2011. The founders are the Council of Ministers and the National Bank of the Republic of Belarus (NBRB). The bank's main goals include the financing of long-term and capital-intensive investment projects in the course of realization of government programs and measures. Apart from that, the bank provides credit support to Belarusian exporters and contributes to the small and medium business development program.