ANNOUNCEMENT 13 Jan 2012In January 2012, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Belorussian Government Decree #44 from 13 January 2012
The Belarusian Government (according to Decree #44 of 13 January 2012) reimburses 50% of the prevailing interest rate (defined to be the refinance rate of the National Bank of Belarus) for the loans which firms in the cement industry have to pay back to Belarusbank. The reimbursement is financed through the Belarus government budget. The decree is aimed to facilitate the development and modernisation of the cement 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.