Business news

MINSK, 18 September (BelTA) – The European Union plans to allocate €14.5 million to support entrepreneurship in Belarus. This is envisaged in the new draft agreement between Belarus and the EU which was presented during the meeting between Belarus’ Deputy Economy Minister Pavel Utyupin and Head of Operations Section of the EU Delegation to Belarus Frederik Coene, BelTA learned from the website of Belarus’ Economy Ministry.

The concrete areas for the EU financial support indicated in the draft agreement will be discussed with the ministries and agencies concerned in the near future.

The agreement is part of the 2014-2017 long-term indicative program for Belarus adopted by the EU in 2014 with a view to providing assistance in social policy, environment protection and economic growth at the local level.

On 13 September Belarus' Economy Ministry hosted the signing of the agreement between the European Union and the European Bank for Reconstruction and Development, according to which the EU will commit €6 million in additional funds over a period of four years to SMEs in Belarus.

On 14 September the EU signed the agreement with Belarus to provide €6 million for research and activities to improve the efficiency of public administration, education, social security and the financial sector.