MINSK, 6 March (BelTA) – It is important to ensure steady, controlled execution of investment projects, Belarusian Deputy Economy Minister Maria Mazhinskaya said at a board meeting of the Economy Ministry, BelTA learned from the ministry’s press service.
Marina Mazhinskaya recalled that since the beginning of the year, new financial instruments have been introduced for the key priorities of the five-year plan (Strong Regions, Tourism Potential, Technological Self-Sufficiency) under the overarching “umbrella” product Regional Initiative. Overall, in her assessment, the dynamics is positive: approximately 50 applications are received per month.
Among the regions, Minsk Oblast leads in terms of approved projects - the lists already include 56 projects worth Br2.5 billion. The undisputed leader among districts is Bobruisk with 13 projects. Another illustrative example is Pinsk that will implement eight projects. This level of activity was largely facilitated by the construction of an industrial park.
“Many regions are planning between 4 and 7 projects. However, every third district currently has no such initiatives,” the ministry noted.
Marina Mazhinskaya emphasized the importance of monitoring investment projects at every stage of the cycle: from inclusion in the lists to the commissioning of the facility.
Maria Mazhinskaya outlined three main priorities for the joint investment work of regional and district authorities, ministries, and banks. The first is the high quality of project proposals. “218 projects have been included in the lists, while 413 applications were submitted. That means approximately every other application is approved. Applications undergo a rigorous screening process, including through the lens of qualitative characteristics: quick payback, the use of domestic raw materials and their deep processing, the creation of a product with high added value, significance for the region, and so on. Projects that do not meet these criteria are turned down,” she said.
The second priority is maximum efficiency in credit support. “it is important to connect the client with the bank quickly, so they can obtain financial resources and proceed to the active stage of implementation. Therefore, this year, to ensure discipline and meet the goals set by the government, we introduced a restriction - no more than six months to apply to banks. After that, the project is excluded from the pool,” Maria Mazhinskaya noted.
The third priority point was identified as the full utilization of funds. “We cannot allow the allocated resources to 'sit idle.' They are meant to work every day. Banks and the Development Bank need to delve more deeply into the progress of project implementation and the technological stages. Where necessary, they should assist with making payments, procurement, and finding counterparties, utilizing their foreign representative offices and established relationships with foreign banks,” she added.
Marina Mazhinskaya recalled that since the beginning of the year, new financial instruments have been introduced for the key priorities of the five-year plan (Strong Regions, Tourism Potential, Technological Self-Sufficiency) under the overarching “umbrella” product Regional Initiative. Overall, in her assessment, the dynamics is positive: approximately 50 applications are received per month.
Among the regions, Minsk Oblast leads in terms of approved projects - the lists already include 56 projects worth Br2.5 billion. The undisputed leader among districts is Bobruisk with 13 projects. Another illustrative example is Pinsk that will implement eight projects. This level of activity was largely facilitated by the construction of an industrial park.
“Many regions are planning between 4 and 7 projects. However, every third district currently has no such initiatives,” the ministry noted.
Marina Mazhinskaya emphasized the importance of monitoring investment projects at every stage of the cycle: from inclusion in the lists to the commissioning of the facility.
Maria Mazhinskaya outlined three main priorities for the joint investment work of regional and district authorities, ministries, and banks. The first is the high quality of project proposals. “218 projects have been included in the lists, while 413 applications were submitted. That means approximately every other application is approved. Applications undergo a rigorous screening process, including through the lens of qualitative characteristics: quick payback, the use of domestic raw materials and their deep processing, the creation of a product with high added value, significance for the region, and so on. Projects that do not meet these criteria are turned down,” she said.
The second priority is maximum efficiency in credit support. “it is important to connect the client with the bank quickly, so they can obtain financial resources and proceed to the active stage of implementation. Therefore, this year, to ensure discipline and meet the goals set by the government, we introduced a restriction - no more than six months to apply to banks. After that, the project is excluded from the pool,” Maria Mazhinskaya noted.
The third priority point was identified as the full utilization of funds. “We cannot allow the allocated resources to 'sit idle.' They are meant to work every day. Banks and the Development Bank need to delve more deeply into the progress of project implementation and the technological stages. Where necessary, they should assist with making payments, procurement, and finding counterparties, utilizing their foreign representative offices and established relationships with foreign banks,” she added.
Follow us on:
