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28 Mar 2019

Belarus Development Bank allocates Br30m on social projects in 2018

Belarus Development Bank allocates Br30m on social projects in 2018

MINSK, 28 March (BelTA) - In 2018, the Development Bank of Belarus allocated about Br30 million to support women's entrepreneurship, rural initiatives and social projects, Chairman of the Board of the bank Andrei Zhishkevich told the media on the sidelines of the First SDG Impact Investment Forum on 28 March, BelTA has learned.

According to Andrei Zhishkevich, the Development Bank pays significant attention to corporate social responsibility and creates attractive conditions for impact investment. “Last year, a total of Br200 million were allocated to the program to support small and medium-sized businesses. Of them about Br30 million, or 15%, were allocated to sub-programs to support social and women's entrepreneurship, and small business in the rural areas,” he said.

This year, the amount of funding will be at the previous year’s level. “In large part, we focus not only on the commercial effect, but also on the so-called economic social added value of projects. The Development Bank forms examples of work in impact investing. I think other players will come here through our participation,” said Andrei Zhishkevich.

He added that smaller interest rates become an incentive for the implementation of entrepreneurial initiatives with a social component, leveling off the gender structure of business, and the development of women's entrepreneurial potential.

The First SDG Impact Investment Forum is held with the assistance of the United Nations Development Program. Taking part in the event are over 300 people. Its goal is to stimulate social impact investment growth and support active engagement of the business community into SDG achievement in the country. The forum presents best foreign practices of SDG impact investment, features of the impact investment market, and also sustainable and innovative business solutions.

The event has gathered representatives of the business community, government bodies, international partners and experts, financial institutes, investment agencies, and public organizations. The forum serves as a platform to present investment packages across four SDG accelerators, identified by leading economists and endorsed by the government. They are green transition towards inclusive and sustainable growth, future generation orientation, digital transformation and social innovations, and gender equitable society.

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