ANNOUNCEMENT 13 Jul 2012
In July 2012, the government of Belarus announced a state guarantee and a preferential loan to a local pharma company.
NUMBER OF INTERVENTIONS
Government Decree #644 from 13 July 2012, О предоставлении гарантии Правительства
Республики Беларусь в погашении кредита и возмещении части процентов за пользование банковским кредитом (On government loan guarantees and reimbursement of loan interest payments), http://www.government.by/ru/content/4513
The Belarusian Government (according to Decree #644 of 13 July 2012) reimburses 50% of the prevailing interest rate (defined to be the refinance rate of the National Bank of Belarus) for loans which the pharma company Borisovskyy Zavod Medicinskih Preparatov have to pay back to Belvnesheconombank in 2012-2013. The reimbursement is financed through the Belarus government budget. The decree is aimed to facilitate the development and modernisation of the pharmaceutical industry in 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.