The Belarus Development Bank spent $105mn on SME support in 2020

By bne IntelliNews January 19, 2021

In 2020 the Development Bank of the Republic of Belarus (DBRB) spent BYN268mn ($105mn) on supporting small and medium-sized enterprises (SMEs), BelTA reported on January 15. The bank will also finance a $1.8mn project to modernise Minsk's international airport. 

A total of 1,168 projects were financed. Projects involving manufacturing accounted for 37.4% of the total. Those enterprises make lighting equipment, window and door frames, wooden civil engineering structures and tinned food. Projects in the sphere of transportation accounted for 21.3% of the total sum, while the share of projects in the sphere of services was 10.6%. As many as 67% of the clients were microbusinesses and self-employed entrepreneurs.

The regions of Grodno Oblast, Brest Oblast and Vitebsk Oblast topped the chart in terms of the number of projects.

As many as 5,016 projects were financed between January 1, 2021 and August 2014, when the programme was launched. The total volume of signed credit agreements and leasing agreements totalled the equivalent of BYN811.3mn. The total cost of the projects financed at the expense of DBRB resources was close to BYN1,373.1mn.

The DBRB has also agreed to lend Minsk National Airport $1.8mn to finance investment projects, the Council of Ministers decided on January 14.

In 2021, the airport will get up to $1.6mn for the scheme to build the second runway and the necessary auxiliary facilities. Another $200,000 will be allocated for the renovation of the Orsha airfield.

The loans will be made available in US dollars at 3.29% per annum.

In 2021, the central state budget will cover 65% of the interest rate payments, while 35% will be covered by the national civil aviation fund and the extra-budgetary centralised investment fund of the Belarusian Transport and Communications Ministry.

 

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