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Small and medium business in belarus will receive BRB 2 bln support


08.11.2010, TUT.BY

Belinvestbank allocated 2 bln BYR to support small and medium business in Belarus. The financial assets will be granted in accordance with leasing schemes with the help of leasingcompany Avangard Leasing to act as a loan sponsor.

The bank has already allocated 1.5 bln roubles to the leasing operator to support small and medium business. Thus, the current volume of assets used for these purposes amounts to 3.5 bln roubles. Besides, the bank considers the possibility of material increase of the volume of financing for small and medium business in the form of micro-crediting in the next year.

Credit resources will be offered both to Minsk companies and to those acting in the regions. “In the shortest possible terms we will distribute the received funds for leasing projects implemented all over the territory of Belarus, - stated Anton Andreenko, Director of Avangard Leasing. - We will try to reach maximum efficiency of funds allocation with minimum risks."

Financial support of small and medium-sized enterprises in Belarus has considerable increased recently. For example, Belarusian Bank of Small Business and European Bank of Reconstruction and Development (EBRD) have lately signed an agreement about trade financing. New credit terms will help Belarusian importers procure foreign goods without advance payments.

The support of small and medium business is one of top priority spheres of state policy. In the end of December of the previous year the authorities adopted State Small Entrepreneurship Support Programin Belarus for years 2010-2012. The program is supposed to create beneficial conditions for sustainable activities of small enterprises and help to overcome administrative hindrances that prevent small enterprises from development, as well as implementation of progressive financial technologies of their support, etc. Only in 2010 the amount of monetary funds allocated for implementation of the programfrom republic and local budgetary funds was supposed to make 31 bln roubles.

“This year small enterprises received a non-precedent support in form of credits, - states our expert. –The means granted by the bank will be partially used for microfinancing, targeted at those entrepreneurs that only start their business. Initiatives of this kind allow to considerably improve business environment in Belarus.”