Belarus’ Development Bank to think about SME funding in Q3 2014

       In Q3 2014 the Development Bank of the Republic of Belarus plans to determine the amount of money that will be available for small and medium business projects. The statement was made by DBRB Chairman of the Board Sergei Rumas.
       The executive said: “Small and medium business is both a priority and a prospect for us. We work in tight cooperation with World Bank experts to establish an effective scheme to credit this branch of the economy. We hope to establish productive collaboration with several Belarusian banks that have advanced furthest in this regard. We are likely to credit small and medium business via agent banks”. The scheme is widely used by major development institutions, he explained.
      As the first step in its work with SMEs the Bank intends to offer loans to Belarusian farmers, who need new agricultural machines. “We are now structuring the deal in association with Promagroleasing Company in order to offer affordable loans to the clients,” said Sergei Rumas.
        The organizational establishment phase of the Development Bank is over: it now has a team of professionals and operates a chain of outlets in the oblast capitals of Belarus.