Development Bank allocates some 300mn rubels to support small and medium business

November 28, BPN. The Belarusian Development Bank allocated some 300 million rubels ($124 million at the current exchange rate) to support thousands of small and medium business projects in 2022.

“Every fourth project was financed as part of our Stabilization product, aimed at supporting export-oriented and import-substitution enterprises,” the bank’s press office said.

Support includes loans and financial leases to implement early-stage projects.

“In the current environment, in order to support the enterprises that contribute to the Belarusian economy’s growth and are focused on replacing imported products or selling domestic goods abroad, financing is provided at 7.5 percent per annum, below the inflation rate,” it said.