Development Bank launches brand new program in support of small and medium-sized businesses

13 августа 2014
Development Bank launches a brand new program in support of small and medium-sized businesses. Its official start was given on 12 August. Three financial institutions with the necessary experience and practice of such lending participate in the pilot program.

Sergei Rumas, Chairman of the Board of JSC Development Bank of the Republic of Belarus: I would like to share the optimism of all the participants in today's ceremony that the Development Bank with the adoption of this program will breathe life into small and medium-sized businesses.

One third of the working population of Belarus is a small and medium business. Almost 50% of such enterprises and organizations today use bank loans, following the usual laws of economics.

Viktor Margelov, co-chairman of the union of legal entities Republican Confederation of Entrepreneurship: Of course, credit is an essential part of business, especially in today's environment, without money it is impossible to earn money, we need investment.

According to bankers the program is quite unique for Belarus. entrepreneurs receive support on such a scale for the first time.

Initial funds for the program are 300 billion rubles. If needed, the amount of support will be increased.

Sergei Rumas, Chairman of the Board of JSC Development Bank of the Republic of Belarus: For me it was a revelation that small and medium-sized businesses will be willing to take out loans at the rate 24, 5%.

Today in Belarus there are more than 90 thousand small and medium-sized businesses, which formed 22% of GDP and 37% of the country's exports last year. Thanks to the Development Program by the end of 2014, these figures could rise.