How does Development Bank help Belarusian business?
The import substitution and increasing exports are the main goals for the Belarusian economy today. At a time when the market situation is not always stable, the financial support is very helpful. The Development Bank is ready to join this help. So, in autumn the size of credit resources to subjects of small and medium business was increased by 1.5 times. During 8 years it has sponsored almost 7 thousand projects in the amount of nearly 2 billion rubles.
Yevgeniy Zakharchuk, deputy director of a private enterprise producing veterinary medicines:
“We could not meet the incoming demand for our products in time. To meet the demand, we turned to the Development Bank for a loan for current activities, to purchase raw materials. The revenue from drug production increased 35% in 10 months of this year.”
Thanks to this support, and thanks to the overall modernization of the company, exports are growing. The plans for the year are $12 million.
The Great Stone industrial park has drawn the maximum amount of innovations in Belarus. One of the residents who have recently joined the large industrial family is a company that produces glass for the engineering industry.
Two-thirds of the production is exported to Russia. The customers include large plants producing the agricultural machinery. It plans to enter the Kazakhstani market as well, and to build a works there.
Small and medium-sized businesses in Belarus are supported regardless of their geographical location and field of activity: from start-ups to agriculture. Today, the product line includes 13 credit resources.
Dmitry Dudik, Executive Director of the Development Bank:
“The goal of the Development Bank is to reduce the cost of products for companies. Accordingly, our rates are lower than the inflation level. We provide loans for up to 5.5 years.”
The bank meets the clients halfway and adapts the lending terms to the situation on the market. And financial support is bearing fruit. The companies' revenues grow and new jobs appear.