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09 December 2021, 09:16

Belarusian banks to increase support under SMEs state program

Aleksandr Chervyakov. An archive photo
Aleksandr Chervyakov. An archive photo

MINSK, 9 December (BelTA) – Belarusian banks are set to increase their business support under the state program “Small and Medium-Sized Enterprises” fivefold, BelTA learned from the press service of the Economy Ministry.

A regular meeting of the permanent ministerial commission on state programs took place under the chairmanship of Economy Minister Aleksandr Chervyakov on 8 December. The meeting considered proposals to adjust the state programs “Digital Development of Belarus”, “Social Protection” and “Small and Medium-Sized Enterprises”.

Aleksandr Chervyakov named an invariable condition, under which the approved measures may be revised: “Adjustment is admissible only if it will help to improve the previously adopted indicators of the industry or ensure a more significant social effect. We will not support proposals on the part of clients of state programs to change planned parameters to match the results actually achieved. This is the principled position of the ministry and the ministerial commission.”

The economy ministry, as the responsible customer, proposed to increase the amount of funding for the activities of the state program “Small and Medium-Sized Enterprises”. The main source of funds is to expand banks' credit lines by almost five times. In the current five-year period small and medium-sized businesses can count on Br30.5 billion, including Br6 billion next year.

According to Aleksandr Chervyakov, this will be a significant support for the business sector.

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