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Belarus Development Bank earmarks Br25m for SMEs projects in January-April

Economy 12.06.2019 | 17:40
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MINSK, 12 June (BelTA) – The Development Bank of the Republic of Belarus (DBRB) has allocated around Br25 million to finance projects of small and medium-sized enterprises (SMEs), Chairman of the Board of the Development Bank Andrei Zhishkevich told journalists ahead of Belarus' Entrepreneurship Development Council meeting, BelTA has learned.

“Supporting small and medium-sized enterprises is one of our lines of business. We are running a relevant large-scale program with participation of partner banks and leasing companies. The volume of lending to SMEs has been growing every year. In January-April 2019, we designated Br25 million for this purpose. Usually contracts are renegotiated in Q1 and the amount of financing increases by the end of the year. This is why we expect to deliver on our SMEs support targets this year. We aim to achieve last year's numbers, around Br200 million,” Andrei Zhishkevich said.

This year, the DBRB has launched new banking products regarding SMEs. “One of our latest products is a special-purpose loan with an even lower interesting rate to support the so-called social entrepreneurship. We are talking about enterprises which employ or provide services to people with disabilities and other disadvantaged citizens. We understand the importance of encouraging such businesses and try to offer more opportunities to finance such projects,” Andrei Zhishkevich noted.

Participants of the Entrepreneurship Development Council meeting are set to discuss problems of business development, priority activities of the council, and interaction with regional entrepreneurship development councils and business associations. The council will also touch upon activities of its executive body –the National Fund for Promoting Enterprise Development.

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