ANNOUNCED AS TEMPORARYNo
With Decree 1123 of December 5, 2012, the Council of Ministers of Belarus authorised the Development Bank of the Republic of Belarus to issue (in 2013) loans at the amount of 170 billion Belarusian Roubles (BYR) with interest rates not more than 7.50% to the company Alexandriyskoe for the construction, re-construction, construction improvements, modernisation and technical re-equipment of the production facilities used in the manufacturing process of feeding stuffs for livestock. The decree enters into force on January 1, 2013.
In 2012, the prevailing interest rate in Belarus, defined to be the refinance rate of the National Bank of Belarus, amounts to 30.00%.
The Development Bank of the Republic of Belarus was established in 2011. Its purpose is to facilitate the financing of state programmes and investment projects. According to article 1.1. of Presidential Decree 261, the founders of the Development Bank of the Republic of Belarus are the National Bank of Belarus and the Council of Ministers of Belarus.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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