Development Bank will allocate about BYN250 million for import substitution loans

The Development Bank of Belarus will allocate about BYN250 million for lending to the import substitution and export support program, BELTA writes. One of the directions is the support of small and medium businesses. We remind you that the export of medical services of Belarus in January — March amounted to more than $9 million.

It is planned to carry out lending through partner banks at a rate of 7.5% in Belarusian rubles. This is half the level of inflation, so the loan rate is negative and will not put significant pressure on the financial performance of businesses. 

The second area of import substitution is large-scale projects at state-owned enterprises. Currently, 13 such projects are under discussion with the Ministry of Industry.

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