MINSK, 17 April (BelTA) – It is necessary to help companies by giving them preferential-rate loans in the current conditions of the pandemic. Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich made the statement at a videoconference session of the Advisory Council of the Chambers of the EAEU member states, BelTA has learned. The session was hosted by the Belarusian Chamber of Commerce and Industry (BelCCI) on 17 April.
Mikhail Myasnikovich said: “Many branches of the economy, the production sector, and transport industry are objectively in a difficult situation. The enterprises have lost some of their floating assets while development funds have lost profits. It is necessary to help them out with preferential-rate loans to be repaid after a respite of, for instance, 2-3 years. Certainly, macroeconomists will tell me it will have a negative effect on the exchange rates of the national currencies and on inflation. Yes, it will but we have to support producers of goods and services in order to smoothly recover from the crisis.”
In his words, the Eurasian Fund for Stabilization and Development and the Eurasian Development Bank will participate in the resolution of these problems as well.
“We need concrete programs and projects now. Not only within the framework of existing mandates of financial development institutions but also possibly unconventional approaches. Chambers of commerce and industry could work together with the development institutions to work out new specific forms of work, particularly with regard to small and medium businesses. And then major businesses need our support as well,” stressed the chairman of the Board of the Eurasian Economic Commission.
