Open Joint-Stock Company “Development Bank of the Republic of Belarus” was established on June 21, 2011; the Council of Ministers and the National Bank of the Republic of Belarus became the principal shareholders. (Edict of the President of the Republic of Belarus No. 261 dated 21.06.2011).
Establishment of the Development Bank was carried out in a close cooperation with the leading international financial institutions, in particular, with the International Monetary Fund and the World Bank based on the best practices analysis of similar institutions.
Development of the governmental programs financing and implementation of socially - significant projects are defined as the main objective for the Development Bank activities.
The statutory fund of the Development Bank was defined at the amount of 20 billion rubles divided by 200000 ordinary shares of 100000 par value. The shares were distributed in the following way: the Council of Ministers of the Republic of Belarus – 100000 shares, the National Bank – 100000 (Resolution of the Council of Ministers of the Republic of Belarus No. 961/18 dated July 15, 2011).
The General Assembly of Shareholders approved the Charter and elected the Supervisory Board of the Bank:
Roumas S.N. - Deputy Prime Minister of the Republic of Belarus;
Kharkovets A.M. - Minister of Finance;
Snopkov N.G. - Minister of Economy;
Luzhin N.B. - First Deputy Chairman of the National Bank of the Republic of Belarus;
Kharlap A.D. – Chairman of the Republican Association of Industrial Enterprises “BelAPP”;
Kovalev M.M. – Dean of the Faculty of Economics of the Belarusian State University, Mathematics Physics Ph.D., professor;
Moshenskiy A.M. – General Director of JV Santa Impex Brest Ltd.
JSC “Development Bank of the Republic of Belarus” was registered in the Unified State Register of legal entities and individual entrepreneurs under reg. No. 191683861, date of the registration: 1 August 2011.
The representatives of the state in the management bodies of the Development Bank were appointed as follows:
Roumas S.N , Deputy Premiere Minister of the Republic of Belarus;
Kharkovets A.M., Minister of Finance;
Snopkov N.G., Minister of Economy.
The procedure for restructuration by the Development Bank of indebtedness on the credits extended to investment projects lending for the procurement of goods with further financial rent (leasing) according to the Resolution of the President of the Republic of Belarus and (or) the Government of the Republic of Belarus , and also the activities included into the programs approved by the President of the Republic of Belarus and (or) the Government of the Republic of Belarus (Resolution of the Council of Ministers of the Republic of Belarus No. 1269 dated 21.09.2011) was approved.
The Council of Ministers of the Republic of Belarus approved the procedure for the banks’ assets acquisition and the list of banks’ assets subject to acquisition by the Development Bank (Resolution No. 1270 of September 21, 2011).
The Development Bank recorded to its balance sheet the assets of JSC “Belarusbank” and “Belagroprombank” (loans provided to the banks before 01.01.2011 by the Resolutions of the President of the Republic of Belarus or the Government of the Republic of Belarus) totaling 2,122 billion rub.