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PM: Belarus' Development Bank might be vested with new functions

Economy 05.12.2018 | 10:47
Sergei Rumas is speaking
Sergei Rumas is speaking

MINSK, 5 December (BelTA) – The Development Bank of Belarus might be vested with new functions, Belarus Prime Minister Sergei Rumas said while introducing new chairman Andrei Zhishkevich to the Board of the Development Bank, BelTA has learned.

“In previous years, the Development Bank has raised the bar high. Being an instrument of the government, it played an important role in economy, lending programs, export promotion and support of small and medium-sized businesses. Naturally, the Bank will retain these functions. They must be developed further, and, maybe, the new chairman will have thoughts on some new functions,” Sergei Rumas said. These proposals will be discussed and submitted for consideration of the Supervisory Board, which is headed by the prime minister.

The head of government pointed out that Andrei Zhishkevich has long worked in the banking system. Prior to the new appointment, he led MTBank for 13 years. The bank is a partner of the Development Bank under the small and medium-size business program and in the other areas. So Andrei Zhishkevich knows the job and the challenges that lie ahead.

Chairman of the Board of the National Bank Pavel Kallaur noted that the central bank as a regulator is responsible for not only banks but also of individual managers. The head of state instructed the National Bank to once again look at the Development Bank which is now headed by Andrei Zhishkevich. “The Bank has taken its niche, but we believe that there is potential for development and use of the Bank in the interests of the state. These are primarily export promotion and support of small and medium-sized business,” Pavel Kallaur believes.

Andrei Zhishkevich
Andrei Zhishkevich

For his part, Andrei Zhishkevich that he is happy to become part of the Development Bank team. “I promise to work hard to reach the goals we have been set. I would like the Bank to remain an effective tool for the government, the National Bank, a model of excellence,” Andrei Zhishkevich said and added that he hopes to be a worthy successor to the previous head.

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