ANNOUNCEMENT 05 Dec 2014In December 2014, the government of Belarus announced a change to private-sector financial support.
NUMBER OF INTERVENTIONS
5 2014 . 1145
To support domestic food producers, the government of Belarus provided interest payment subsidies in 2015.
With Decree of the Council of Ministers of Belarus Nr. 1145 of 5 December 2014, 56 consumer cooperatives will receive loans through the state-related banks 'Belarusbank' and "Belagroprombank" at the amount of BYR 186.2 billion* (USD 17.161 million) in order to pay for food products produced by enterprises of the Ministry of Agriculture, as well as by organisations that are members of the Belarusian State Concern 'Belgospischeprom'. The maturity of the loans is 31 December 2015.
In addition, the state undertakes to partially reimburse interest rates to be paid by the consumer cooperations at 50% of the refinancing rate of the Central Bank of Belarus.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.