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Economy
01 December 2022, 12:32

Social initiatives in Belarusian regions hailed as economically efficient

An archive photo
An archive photo

MINSK, 1 December (BelTA) – Social initiatives in the regions have proven to be economically efficient. Such a conclusion was made at the seminar to discuss outcomes and prospects of socially significant initiatives, BelTA learned from the press service of the Economy Ministry.

The seminar was held within the framework of the project “Support to Economic Development at the Local Level in the Republic of Belarus”. It was attended by representatives of socially significant initiatives from 12 pilot districts of the project. During the interactive presentation, the participants shared the results of the initiatives and explored cooperation opportunities.

National coordinator of the project “Support to Economic Development at the Local Level in the Republic of Belarus” Irina Babachenok took part in a roundtable session to discuss the results of using the instruments of the Fund for Support of Entrepreneurial Social Initiatives to implement the project. The participants of the session noted that the implementation of social initiatives has proved its economic efficiency.

Experts concluded that the development of criteria for classifying a business initiative as social entrepreneurship and formalization of the concept ‘social entrepreneurship' at the legislative level will allow social initiatives to participate in state support programs. Social entrepreneurship support centers could take over most of the administrative work at the initial stage and give an impetus for the development of social entrepreneurship in the country.

All in all, 31 initiatives in the field of social entrepreneurship received support and funding under the project “Support to Economic Development at the Local Level in the Republic of Belarus”. The initiatives were estimated at a total of $1.6 million.

More than 10,000 people took part in the initiatives, which helped them build capacity in business, learn new professions, skills and competencies. A total of 111 partners were involved in the initiatives. More than 200 jobs were created, including for people with disabilities.

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