MINSK, 11 September (BelTA) – As of 1 August 2020, 86,963 family capital deposits were opened in Belarus under the family capital program, BelTA learned from the press service of the Belarusian Architecture and Construction Ministry.
The family capital program has been running since 2015. A total of 86,963 large families in Belarus have opened family capital deposits since then. As many as 18,116 decisions on spending family capital prematurely have been issued. “In 2020, the program was extended for another five years due to its effectiveness. Experts view the program as a means not only to support large families but also to raise the birth rate. The number of large families in the country has grown by 1.4 times since the launch of the program. Belarusians mostly use family capital to solve the housing issue,” the ministry noted.
The family capital program is aimed at supporting families with many children. When parents give birth to or adopt third and subsequent children, they receive financial assistance from the government. Since 1 January 2015, large families got $10,000 in a special deposit account.
In line with the terms of the program, family capital became available once a child turns 18. The money could be used to improve housing conditions, get education, social services and healthcare services, or be deposited to a mother's pension account. The money could be spent prematurely only if a member of the family required complex medical help.
Some amendments were introduced to the new version of the program. The family capital now totals Br22,500 and will be revised annually. It will be granted upon the birth of third and subsequent children from 1 January 2020 to 31 December 2024. The new program also expanded the list of the provisions under which families can use family capital prematurely.
The housing issue is the most popular reason for families to use their family capital. It accounts for more than 90% of applications. Getting education goes second. Only few families want to spend family capital on healthcare services. The demand for buying housing using family capital is high among large families all over the country.
