On February 1, 2017 Belgazprombank and JSC "Development Bank of the Republic of Belarus" signed a new financing agreement aimed at the development of small and medium-sized enterprises (SME) and individual entrepreneurs.
The financing agreement signed in 2017 significantly extends access to financial support of SME comparing to the agreements concluded in previous years. The main novelty of the agreement is that it covers a wide range of credit products covering different spheres of business activity - from industrial to commercial enterprises. Lending objectives are also extended i.e. in additional to acquisition of tangible assets the agreement provides for the possibility to acquire intangible assets (patents, licenses) as well as franchises.
- The offered products provide an excellent opportunity to improve the access of small and medium-sized enterprises to financial support. In our opinion, one of the interesting products is the support of Belarusian exporters, - said Elena Belkovets, Deputy Head of Retail Loans Expertise Department of Belgazprombank. - For instance, the executed agreement should be interesting for transport companies which are engaged in international cargo transportation. Provided they have foreign currency proceeds and signed export contracts, they are eligible to receive BYN financial support to renew vehicle fleet at a rate of just 12%. At present also manufacturing enterprises have an opportunity to finance their investment activity at 12% p.a.
Actual credit offers (link)
Belgazprombank, established in 1990 and controlled by Russia’s Gazprom Group, occupies a leading position in lending to the private sector of the Belarusian economy, in particular small and medium enterprises as well as retail lending. Belgazprombank has regularly won «The best entrepreneur» award in the nomination "The Best bank for providing services to entrepreneurs."
JSC "Development Bank of the Republic of Belarus" is a specialized financial institution founded by the Council of Ministers and the National Bank of the Republic of Belarus. Its objective is to finance projects included in the government programmes and provide credit support to the Belarusian export.
The programme for support of small and medium enterprises has being implemented by the Development Bank since August, 2014. A two-tier mechanism of the program stipulates that the Development Bank allocates resources for the implementation by small and medium enterprises of investment projects.