Support for small and medium-sized businesses is provided in Belarus

Since 2011, a specialized financial institution of the Development Bank has been operating in the Republic of Belarus, the main goal of which is to create conditions for economic growth in the country.

The most demanded area of the Development Bank’s activity is the financial support program for small and medium-sized businesses that has been implemented for many years. At the enterprises that received support under the program, the average increase in revenue amounted to about 79%, and the increase in the number of employees – more than 8.8 thousand people. Since the start of the program, support has already been provided to almost 7000 projects. Also, the Development Bank’s initiatives to support small and medium-sized businesses include venture financing, the introduction of a guarantee mechanism, crowdfunding, reengineering of administrative procedures, the formation of digital platforms, support for foreign economic activity, etc.

Today the product line includes 13 credit products, including 11 in Belarusian rubles. In 2022, the Development Bank developed new products «Import Substitution Support» and «Stabilization».

In total, over 1000 projects have already been supported in 2022 in various sectors of the country’s economy: agriculture, forestry and fisheries, businesses implementing environmental projects, women entrepreneurs, socially responsible entrepreneurship, start-ups.

Support and development of small and medium-sized enterprises makes an important contribution to the achievement of Sustainable Development Goals 1, 8 and other SDGs by the Republic of Belarus.

More detailed information on support for business initiatives in Belarus can be found at the link.