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15 January 2021, 19:20

Br268m spent by Belarus' Development Bank to support private SMEs in 2020

The Development Bank of the Republic of Belarus. An archive photo
The Development Bank of the Republic of Belarus. An archive photo

MINSK, 15 January (BelTA) – In 2020 the Development Bank of the Republic of Belarus (DBRB) channeled Br268 million into supporting small and medium private enterprises, the DBRB press service told BelTA.

A total of 1,168 projects were financed. Projects involving manufacturing accounted for 37.4% of the total. Those enterprises make lighting equipment, window and door frames, wooden civil engineering structures, tinned food. Projects in the sphere of transportation accounted for 21.3% of the total sum while the share of projects in the sphere of services was 10.6%. As many as 67% of the clients were microbusinesses and self-employed entrepreneurs.

The geography of financing covered virtually the entire country thanks to a well-developed network of partner banks participating in the program on the financial support of small and medium private enterprises. Grodno Oblast, Brest Oblast, and Vitebsk Oblast topped the chart in terms of the number of projects.

As many as 5,016 projects were financed between 1 January 2021 and August 2014 when the program was launched. The total volume of signed credit agreements and leasing agreements totaled the equivalent of Br811.3 million. The total cost of the projects financed at the expense of DBRB resources was close to Br1,373.1 million.

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