Business news

MINSK, 21 December (BelTA) – The Development Bank of the Republic of Belarus (DBRB) plans to earmark at least Br100 million to support small and medium-sized enterprises (SMEs) in 2018, BelTA learned from the press service of the Bank.

“The meeting of the Supervisory Board of the Development Bank chaired by Belarus Prime Minister Andrei Kobyakov on 20 December examined the documents defining the main areas of activity of the Bank in 2018. For example, next year the Bank plans to allocate at least Br100 million to support small and medium-sized businesses,” the Bank informed.

The Bank also plans to inject Br1.3 billion into investment projects. The volume of export credits is expected to reach Br400 million, 1.3 times above the 2017 target set by the Supervisory Board. In 2018 the Development Bank plans to increase the volume of resources borrowed in foreign markets by not less than Br200 million in equivalent.

“The Development Bank is set to generate Br150 million in profit next year. The funds will be considered as an additional resource to support SMEs and ensure a long-term stable operation of the Bank,” the press- service said.

The meeting discussed the preliminary results in the fulfillment of the 2017 key parameters and major tasks.

The Development Bank of the Republic of Belarus is a specialized financial institution founded in 2011. The founders of the Bank are the Council of Ministers and the National Bank of Belarus. The Bank has been tasked with financing long-term and capital-intensive investment projects, state programs and activities.