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The Development Bank of the Republic of Belarus financed 835 projects of small and medium-sized enterprises in 2019. The total amount of loan and financial leasing agreements last year made up Br131.4 million, BelTA learned from the website of the bank.

The total cost of the projects financed by the Development Bank in 2019 amounted to Br178.3 million. The bulk of the loans meant for SMEs (in terms of the lending amount) went to projects related to passenger and cargo transportation (45%), manufacturing (29%) and services sector (8%). “As far as the number of the funded projects is concerned, micro-businesses and self-employed entrepreneurs accounted for 72% of loan recipients. Businesses from virtually all parts of Belarus took advantage of the lending program due to a broad network of partners. Most of the projects came from Grodno Oblast, Brest Oblast and Minsk Oblast,” the bank informed.

The Development Bank has been running a program aimed to increase access to lending for SMEs for more than six years already. The finances are provided in the form of loans and financial leasing that can be used to implement projects at various stages of a business cycle.

Since the program was launched, some 3,809 projects have been financed (as of 1 January 2020). The total amount of loan and financial leasing agreements made up Br552.7 million in equivalent. The total cost of the projects financed using resources of the Development Bank amounted to Br943.66 million in equivalent.

Source: https://eng.belta.by/economics/view/belarus-development-bank-funds-835-sme-projects-in-2019-128116-2020/