An archive photo
MINSK, 27 June (BelTA) – The National Bank of the Republic of Belarus is launching the New Champions project to identify new points of economic growth in Belarus, Chairman of the Board of the National Bank Roman Golovchenko said, BelTA has learned.
“This is a new area that we are going to delve into. Perhaps, this is not one of conventional tasks of a central bank. But I believe that the National Bank should be interested in anything that can contribute to the country’s economic growth. We want to find small and medium-sized businesses that have significant growth potential. Not 5%, not 10%, not 15%, but truly substantial growth. Perhaps their ability to expand and thrive is impeded by poor structure, the lack of financing or unawareness of the opportunities the government and the banking system can offer them in order to grow and increase sales,” said Roman Golovchenko.
According to the press service of the National Bank, taking part in the project will be banks, the Development Bank and, possibly, other financial institutions. They will provide financial support to enterprises and share expertise with them in order to identify their growth reserves and distribute the best practices nationally.
On 27 June, the head of the National Bank visited Molodechno District. The focus was on SMEs. The first stop of the itinerary was the Mekhantek enterprise. The company has been operating since 1995. It specializes in major repairs, modernization and production of new metal-cutting machines. After that Roman Golovchenko toured the GrandMilk company. This small artisan cheese factory near Molodechno has been operating since 2019. Its core business is the production of hard cheeses from goat, sheep and cow milk. The company's product offering also includes cheeses with white and blue mold, cheese candies, fruit jams and handmade chocolate.
“Today's enterprises differ from each other in terms of the output and the type of products. But we believe that both of them are capable of growing into quite successful enterprises,” noted Roman Golovchenko.
“This is a new area that we are going to delve into. Perhaps, this is not one of conventional tasks of a central bank. But I believe that the National Bank should be interested in anything that can contribute to the country’s economic growth. We want to find small and medium-sized businesses that have significant growth potential. Not 5%, not 10%, not 15%, but truly substantial growth. Perhaps their ability to expand and thrive is impeded by poor structure, the lack of financing or unawareness of the opportunities the government and the banking system can offer them in order to grow and increase sales,” said Roman Golovchenko.
According to the press service of the National Bank, taking part in the project will be banks, the Development Bank and, possibly, other financial institutions. They will provide financial support to enterprises and share expertise with them in order to identify their growth reserves and distribute the best practices nationally.
On 27 June, the head of the National Bank visited Molodechno District. The focus was on SMEs. The first stop of the itinerary was the Mekhantek enterprise. The company has been operating since 1995. It specializes in major repairs, modernization and production of new metal-cutting machines. After that Roman Golovchenko toured the GrandMilk company. This small artisan cheese factory near Molodechno has been operating since 2019. Its core business is the production of hard cheeses from goat, sheep and cow milk. The company's product offering also includes cheeses with white and blue mold, cheese candies, fruit jams and handmade chocolate.
“Today's enterprises differ from each other in terms of the output and the type of products. But we believe that both of them are capable of growing into quite successful enterprises,” noted Roman Golovchenko.
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