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22 April 2022, 19:58

Government to support Belarusian manufacturers of import substitutes

MYADEL DISTRICT, 22 April (BelTA) – Manufacturers of import substitutes will get support in Belarus, BelTA learned from Prime Minister of Belarus Roman Golovchenko on 22 April.

Roman Golovchenko said: “Import substitution has many facets from highly sophisticated products to medical plants. We've been working on it for a long time but today's situation arising from sanctions has spurred us even more. Regional plans and industry-specific plans have been adopted. We intended to make $25 billion worth of import substitutes. Certainly, we will move faster now and will add about $2 billion on top of that sum. We have 27 new projects, which have been forwarded to the Development Bank of the Republic of Belarus for additional funding.”

Roman Golovchenko mentioned import substitution is important in current conditions. “We expect that not only major state-run enterprises but private small and medium enterprises will get involved. The playing field is very large for such companies now. Certainly, we understand it requires certain investments and efforts. This is why the government has come up with the relevant program specifically to support the entrepreneurs willing to go in for import substitution and develop manufacturing business. The Development Bank of the Republic of Belarus is ready to lend up to Br2.5 million per project at a very attractive interest rate. There are 16 applicants willing to take these resources now. But the Development Bank has much more at its disposal. This is why we invite you to grab the opportunity,” the prime minister stated.

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