ANNOUNCEMENT 09 Jun 2011

In June 2011, the government of Belarus announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 09 Jun 2011 | Removal date: open ended
Still in force

Loan guarantee

 By the Belorussian Government Decree #743 from 9 June 2011 the government guarantee (30 billion rubles (4.2 million Euros)) to the paper production plant "Spartak" was introduced to finance the technical restructuring of the plant. Theloan is given by "Belarusbank" under state guarantee. The loan is due to 30 April 2016. The plant will buy the European equipment to produce high quality paper (paper, carton, napkins, toilet paper and others). This government support has an import substitution intention as stated at the government webpage (http://www.government.by/ru/content/3895). This measure will allow to save foreign currency instead of buying expensive foreign paper products abroad.

AFFECTED SECTORS