Development Bank’s financing of investment projects up 70.6% in Jan-Sep 2020 to Br1.72bn
<p> MINSK, Oct 20 - PrimePress. The Development Bank of the Republic of Belarus OJSC increased in January-September 2020 the amount of financing of investment and other projects, including investment loans to customers and acquisition of targeted bonds to finance social facilities, by 70.6% year on year to 1.72 billion Belarusian rubles ($669.1 million at the rate of the National Bank of Belarus), the bank’s press office reports. </p> <p> </p> <p> “Since the recent changes to the mandate of the Development Bank, financing of independently selected investment projects has become increasingly relevant. Clients are offered loans in the national and foreign currencies. Financing of Belarusian-Chinese investment projects from the credit line of the China Development Bank also remains relevant and attractive,” reads the statement. </p> <p> </p> <p> In January-September 2020, the bank allocated funds for export lending and support for small and medium enterprises. The amount of export credits reached Br871.7 million in equivalent, up 44.2% year on year ($339.1 million. Support for small and medium enterprises in Jan-Sep 2020 totaled Br204.2 million ($79.4 million), up 170% year on year. </p> <p> </p> <p> The Development Bank provided in Jan-Sep 2020 around Br2.8 billion ($1.089 billion), or 2.6% of GDP, for the implementation of investment and other projects, export lending and support for SMEs. </p> <p> </p> <p> The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End (Br2.5708/$1) </p>
2020-10-21
Primepress
Development Bank’s financing of investment projects up 70.6% in Jan-Sep 2020 to Br1.72bn
MINSK, Oct 20 - PrimePress. The Development Bank of the Republic of Belarus OJSC increased in January-September 2020 the amount of financing of investment and other projects, including investment loans to customers and acquisition of targeted bonds to finance social facilities, by 70.6% year on year to 1.72 billion Belarusian rubles ($669.1 million at the rate of the National Bank of Belarus), the bank’s press office reports.
“Since the recent changes to the mandate of the Development Bank, financing of independently selected investment projects has become increasingly relevant. Clients are offered loans in the national and foreign currencies. Financing of Belarusian-Chinese investment projects from the credit line of the China Development Bank also remains relevant and attractive,” reads the statement.
In January-September 2020, the bank allocated funds for export lending and support for small and medium enterprises. The amount of export credits reached Br871.7 million in equivalent, up 44.2% year on year ($339.1 million. Support for small and medium enterprises in Jan-Sep 2020 totaled Br204.2 million ($79.4 million), up 170% year on year.
The Development Bank provided in Jan-Sep 2020 around Br2.8 billion ($1.089 billion), or 2.6% of GDP, for the implementation of investment and other projects, export lending and support for SMEs.
The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End (Br2.5708/$1)