Business news

MINSK, 13 January (BelTA) – The Development Bank of Belarus in cooperation with partner banks has financed 99 investment projects of small and medium-sized enterprises (SMEs) to the total tune of Br650 billion under the corresponding program, BelTA learnt from the press service of the Development Bank of Belarus.

The funds were allocated to the companies doing business in the most important for the national economy areas, such as forest procurement, transport, construction, production of rubber and plastic products, metal ware. The resources were provided for projects in chemical and textile production, plant breeding, polygraphic activity. Among the participants of the program are representatives of small and medium-sized business engaged in the production of food, furniture, woodworking, production of electrical machines and equipment and other types of activity.

The bulk of projects, 56%, are related to manufacturing, 25% - to transport, 10% - to services. Projects in the construction sector make up 9% of the SMEs promotion portfolio.

The credit support is most popular among the SMEs of Minsk Oblast, Minsk, Brest and Gomel Oblasts.

The SMEs promotion program has been implemented by the Development Bank of Belarus since August 2014. Self-employed entrepreneurs got a chance to join the program in November 2014. The financial mechanism of the program envisages that the Development Bank allocates funds to partner banks that issue loans to the participants of the program. Partaking in the program are nine partner banks: Belgazprombank, Bank BelVEB, Belarusky Narodny Bank, Belinvestbank, MTBank, Alfa Bank, Bank VTB (Belarus), BPS Sberbank, Bank Moscow-Minsk.