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Belarus finances 400 small and medium projects

Staff writer ▼ | November 12, 2015
The Belarus Development Bank provided financing for nearly 400 investment projects of small and medium-sized business since August 2014.
Small businesses   Sergei Rumas announced:
Sergei Rumas, the chairman of the board of the Development Bank, told that a press conference dedicated to the Global Entrepreneurship Week and the 5th International Entrepreneurship Forum, BelTA has learned.

"To date, the banks-partners funded approximately 400 investment projects. We allocated them a total of Br50 billion. But the total amount of projects that has already been implemented has already exceeded Br2 trillion,” he said.

According to Sergei Rumas, thanks to the program of the Development Bank, every fourth ruble was loaned, and three rubles were invested by businessmen themselves.

"With regard to the structure of these projects, the bulk of them has been implemented in the manufacturing industry, or innovative manufacture. There are also projects in of services and transport,” he explained.

"With regard to overdue loans, I have no information on this because banks pay us back on time. I have not heard about the delays in payments to the banks either. I think businesses may be struggling with some difficulties, but given that the banks actively use our program they are ok with the risks,” Sergei Rumas noted.

The Development Bank launched the program of financial support for small and medium-sized business in August 2014. Its main tool is the provision of loans at affordable costs and with transparent and clear requirements for borrowers.

Currently the program involves 11 banks: Belgazprombank, BelVEB Bank, BNB Bank, Belinvestbank, MTBank, Alpha Bank, Bank VTB (Belarus), BPS-Sberbank, Priorbank, the Moscow-Minsk Bank and Belagroprombank. OAO Development Bank of the Republic of Belarus is a specialized financial institution operating as a stock corporation.