ANNOUNCEMENT 30 Aug 2013
In August 2013, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 30 августа 2013 г . No 769,
The Council of Ministers of the Republic of Belarus (according to Decree 769 of August 30, 2013) has increased the volume of credits from BYR 2 898.4 billion (USD 280 million) to BYR 4 076.1 billon (USD 400 million) that selected banks (Belagroprombank, Belarusbank, Belinvestbank) extend in 2013 to manufacturing enterprises for the purchase of agricultural products. In addition, the government will provide state guarantees in 2013 that cover the loan principal. The decree also foresees an increase of the state share in 2014-2015 in the enterprise capital equal to the sum of the received state aid. On qualifying loans, the state will pay half of the interest.
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.