Belarus govt to provide financial assistance only via budget loans

11.01.2019 09:13 / Belarus

MINSK - Belarus’ authorities have tightened the terms of financial assistance, in accordance with President Lukashenko’s Ordinance #10 of Jan 10, 2019.

The document says that the state shall provide financial assistance in exceptional cases by decision of the head of state and exclusively in the form of budget loans for investment projects, which received a positive evaluation from the government’s expert panel.

The document specifies who can count on receiving financial assistance from the state: Belarus-based companies (except state-funded companies, banks, Belarus Development Bank, non-banking credit-and-finance institutions) and self-employed businessmen.

Recipients of financial assistance (borrowers) are supposed to meet specific indicators of economic performance (set before providing finance and not subject to change). Borrowers are supposed to send in annual economic performance reports for the authorities to judge how effectively budget loans are used.

Source: PrimePress

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