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World Bank loans for Belarusian SMEs now available in euros

MINSK, 15 March (BelTA) – World Bank funding for small and medium private companies in Belarus is now available in euros, BelTA learned from representatives of the Development Bank of the Republic of Belarus (DBRB).

In 2017 the Development Bank took out an external loan to the tune of $60 million from the International Bank for Reconstruction and Development for the sake of implementing a project designed to expand access to finance for micro, small, and medium enterprises in the Republic of Belarus. As of March 2019 Belarusian SMEs can borrow money for a long time at an attractive interest rate not only in U.S. dollars but also in euros, DBRB representatives told BelTA.

The project applies to self-employed businessmen, micro organizations, small organizations, and medium-sized entrepreneurship entities, which need to have their floating capital financed or buy (reconstruct, upgrade) permanent assets for the purposes of manufacturing, trade, or for providing services.

Belarusian SMEs can request loans from six partner banks: Alfa Bank, Belinvestbank, Priorbank, Dabrabyt Bank, Belagroprombank, and Belgazprombank. Two more banks – MTBank and Belarusky Narodny Bank (BNB Bank) – will join the project soon.

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