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29 Aug 2017

Belarus’ Development Bank plans to use IBRD’s $60m loan for SMEs promotion

MINSK, 29 August (BelTA) – The Development Bank of Belarus is in talks with the International Bank for Reconstruction and Development (IBRD) on a $60 million loan to promote small and medium-sized business in the country. Belarus President Alexander Lukashenko signed the corresponding decree No.300 of 24 August “Concerning the attraction of the outside loan and the draft international agreement” published on the national legal internet portal, BelTA has learned.

The head of state approved the attraction of an external loan of the International Bank for Reconstruction and Development to the total tune of $60 million by the Development Bank of Belarus. The loan will be allocated under the government guarantees to finance the project on the expansion of the access to financing micro, small and medium-sized companies in the Republic of Belarus.

The Council of Ministers has been instructed to provide government guarantees to the IBRD in repaying the loan and paying interests and other fees in accordance with the agreement.

The president approved the draft guarantee agreement as the basis to hold talks and instructed the Economy Ministry to conduct the talks and sign the document.

 

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