ANNOUNCEMENT 01 Dec 2011In December 2011, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Belorussian Government Decree #1630 from 1 December 2011
The Government of the Republic of Belarus (according to Decree #1630 of 1 December 2011) reimburses 50% of the prevailing interest rate (defined to be the refinance rate of the National Bank of Belarus) for loans which firms operating in the milk industry have to pay back to Belagroprombank and to Belarusbank. The reimbursement is financed through the state budget. The decree is aimed to facilitate the development and modernisation of the milk 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.