ANNOUNCEMENT 23 Jun 2012In June 2012, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Government Decree #581 from 23 June 2012
The Belorussian Government (according to Decree #581 of 23 June 2012) will reimburse 50% of the prevailing interest rate (defined to be 10.5%, which is lower than the refinance rate of the National Bank of Belarus) for the loans which the meat-milk company Myaso-molochnaya Companiya has to pay back to SPB-Sberbank. The reimbursement is financed through the Belarus government budget. The decree is aimed to support domestic meat and milk producers.
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.