Belarus launches new mechanism to support small businesses - how it works

A new tool to support small manufacturing enterprises has been launched in Belarus. Those who do not have sufficient collateral to fulfill their loan obligations, the Development Bank will provide guarantees to obtain resources in commercial banks. Many factors affect the performance of such enterprises, but a significant degree of success depends on the ability to obtain and effectively use financial resources, the bank said. But given that the guarantee mechanism is a new instrument, and each transaction involves the coordinated activities of at least four entities, work will soon have to be done to maximize the reduction of procedures and processes related to the consideration of projects and their timely financing.