Belarus Development Bank pours Br183.1m into 919 SME projects in Jan-Sep 2020

<p> MINSK, Oct 23 - PrimePress. OAO Belarus Development Bank (BDB) in association with partner banks provided Br182.1 million ($71.5m) in support of 919 investment projects by Belarus’ small and medium enterprises (SMEs) in Jan-Sep 2020, the bank said in a press-release. </p> <p>   </p> <p> The total value of projects financed at the expense of the Development Bank was Br333.4 million ($131 million, $1 - Br2.546). </p> <p>   </p> <p> Projects relating to production activities (production of lighting products, window and door units, wooden building structures, canned products) accounted for 36.5% of the bank’s total SME portfolio; transport activities (passenger and cargo transportation) - 21%, services - 11%. Microbusinesses and individual entrepreneurs account for 69% of the bank’s client base in the SME sector. </p> <p>   </p> <p> Since 2014, when the bank launched its SME financing programme, Belarus Development Bank has provided support to 4,767 investment projects (loan agreements and lease deals) to the tune of Br754 million ($296.2m) as of Oct 1, 2020. </p> <p>   </p> <p> The Development Bank was established on June 21, 2011 after Belarusian President Alexander Lukashenko signed ordinance #261 to create open joint-stock company Bank of Development of the Republic of Belarus. </p> <p>   </p> <p> The Development Bank is Belarus’ agent bank to service and repay state loans and external loans attracted against a government security and extended to finance projects included in state programs. </p> <p>   </p> <p> The government holds a 96.224% stake in the Development Bank of Belarus. End </p>

2020-10-24

Primepress