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Extension of family capital program in Belarus

Extension of family capital program in Belarus

19.09.2019 | 15:37

The family capital program has been extended from 1 January 2020 till 31 December 2024. The opportunities for tapping into family capital ahead of schedule have been expanded.

Base family capital will equal Br22,500 as from 1 January 2020. It will be annually adjusted depending on the consumer price index.*

Who is eligible:

Belarusian citizens upon the birth (adoption) of a third and subsequent children provided that a family has at least three children under 18, including the newborn or the adopted child.

Where to apply:

Local executive and administrative bodies within six months after the birth (adoption) of the child.

When and how family capital can be used:

Once the child turns 18

To improve housing

To get education, social services, healthcare services

To add to the mother's pension account.

Early withdrawal:

Housing (large families on the waiting list in need of better housing)

Education

Healthcare

Large families who were assigned family capital in 2015-2016 also have the right to use the funds ahead of schedule for the abovementioned purposes.

* The funds will be kept as Family Capital deposits in OAO ASB Belarusbank.

Source: Belarus president decree No.345 On Family Capital of 18 September 2019