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Development Bank funds nearly 3,000 SME projects since 2014

Economy 09.11.2018 | 16:18
An archive photo
An archive photo

MINSK, 9 November (BelTA) – The Development Bank of the Republic of Belarus has financed nearly 3,000 projects since the launch of the SME support program in 2014, head of the SME financing sector of the Development Bank Yulia Kavetskaya said at a press conference in the run-up to the Global Entrepreneurship Week in Belarus, BelTA has learned.

“Since the SME support program was launched, the Development Bank has funded almost 3,000 projects,” she noted. The total amount of loan agreements approximated Br370 million.

Yulia Kavetskaya emphasized that support for businesses is not limited to financing. “This year the focus was made on educating fledgling entrepreneurs in the regions. We developed our own training program for small and medium-sized businesses, because we realize that apart from providing financial resources it is important to educate a customer how to utilize the funds properly, evaluate risks and feel the market. Our seminars touch upon many legal and bookkeeping aspects of doing business,” the representative of the Development Bank noted.

During the forthcoming Global Entrepreneurship Week in Belarus, the Development Bank has plans to reward its best partners who were most active in implementing the program to provide financial support for small and medium-sized businesses. According to Yulia Kavetskaya, this year the list of such organizations features not only banks, but also leasing companies.

Speaking about key topics that will dominate the agenda of the forthcoming Global Entrepreneurship Week in Belarus, Yulia Kavetskaya noted: “We have invited World Bank Country Manager for Belarus Alex Kremer to share WB's vision of the biggest challenges facing Belarusian entrepreneurs.” Apart from that, the Development Banks will present an expanded lineup of its products.

The Global Entrepreneurship Week is an annual global event aimed at finding new ideas for entrepreneurship. The event takes place in 170 countries. In 2018 the Global Entrepreneurship Week will draw over 15,000 partner organizations around the world under the auspices of Kauffman Foundation. This event has been held in Belarus since 2011. Its official representative is the BEL.BIZ Center of Business Communication. Its partners are the U.S. Agency for International Development, the Development Bank of Belarus, the Economy Ministry, the International Finance Corporation and the British Embassy. The event will be supported by the Council of Ministers of Belarus.

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