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Development Bank’s Activity Results for the First Half of 2023 Summed Up

The Management Board of the Development Bank held an expanded meeting, where the results of the Bank's activities for the first half of 2023 were reviewed.

In the reporting period the Development Bank carried out activities aimed at achieving its main goal - to promote sustainable development of the national economy, effective implementation of the state social and economic policy.

In January-June 2023, the Development Bank allocated almost 1.2 billion rubles to finance investment and other projects. The amount of loans for investment purposes was almost 2 times higher than for the same period of the previous year. The portfolio of loans for investment purposes increased by 3.3% and amounted to 6.5 billion rubles.

This year the Bank announced a new tender of investment projects for construction and reconstruction of commercial dairy farms, the winners of which will be able to apply for Development Bank loans and state support in the form of budget transfers for reimbursement of part of incurred capital costs. Out of 11 applicants admitted to the competitive selection, 10 organizations located in four regions of the republic passed to the second stage.

It is worth noting the Development Bank's active participation in implementing the measures of the Target Plan of Socio-Economic Development of the Republic of Belarus for 2023.

To implement its projects under the “One District - One Project” initiative and increase localization and import substitution, the Development Bank has organized active cooperation with project initiators and partner banks also involved in financing these projects.

In the past six months, the Development Bank was also active in providing financial support to domestic exports. The gross volume of granted export credits amounted to slightly less than 1.5 billion rubles in equivalent.

More than 170 million rubles were provided for financial support of small and medium-sized enterprises in January-June of the current year. 537 projects with a total value of 255 million rubles were financed.

“Stabilization” and “Support to regions” loan products were the most popular among businesses, accounting for about 60% of the granted resources.

In the near future, the line of credit products will be expanded with a new product for SMEs involved in cooperation with large organizations. This product will be focused on solving the government's task of stimulating the development of private companies in the industrial sector that promote the implementation of import-substituting projects and increase the country's technological independence.