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02 August 2022, 09:01

Belarus' Development Bank doubles financing of investment projects

An archive photo
An archive photo

MINSK, 2 August (BelTA) – In H1 2022 the Development Bank of the Republic of Belarus earmarked about Br4.6 billion to implement investment projects and other projects, to boost export lending and to support small and medium-sized enterprises, up more than two times over January-June 2021, BelTA learned from the bank.

“The main goal of the Development Bank is to promote the sustainable development of the national economy, facilitate the implementation of the state socio-economic policy. In January-June, Br3.5 billion in equivalent was allocated for the implementation of investment and other projects. This included investment loans and the purchase of bonds to finance social infrastructure facilities,” the bank informed.

Gross export loans worth Br891 million were issued, and the portfolio of export loans expanded 1.5 times. The equivalent of Br143.5 million was earmarked to support small and medium-sized enterprises in H1 2022, more than 60% of which was designed for financing export-oriented and import-substituting projects.

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