Business news

MINSK, 18 July (BelTA) – Belarus President Alexander Lukashenko has endorsed the 2016-2020 development strategy of the Development Bank of the Republic of Belarus (DBRB), DBRB Chairman of the Board Sergei Rumas told reporters after he delivered a report to the head of state on 18 July, BelTA has learned.

Sergei Rumas said that the Development Bank has carried out its first strategy for 2013-2015. He informed Alexander Lukashenko in detail about the results of implementation of the key performance indicators. “We are completing the drafting of a new strategy, so we had to discuss with the head of state the new functions of the Development Bank arising from its growing role in the Belarusian economy. Alexander Lukashenko endorsed the ideas that I presented to him. Already today, these proposals will be integrated into the draft strategy that will be discussed at the meeting of the DBRB supervisory board on Thursday,” Sergei Rumas said.

He specified that work is underway to clarify the mandate of the Development Bank which is the only coordinator of lending under government programs in Belarus. “All new projects that the state is planning to finance will receive funding from the Development Bank and, in most cases, on a competitive basis. Therefore, the algorithm of work with government agencies and enterprises needs to be amended and formalized in our strategy,” Sergei Rumas explained.