During 2021 the amount of family funds under the Development Bank’s management decreased by 8.8% or by USD 65.0 million and as of 01.01.2022 made USD 674.5 million. The decrease of the family fund is due to the completion of the five-year period of providing this form of support to large families in accordance with the Decree of the President of the Republic of Belarus No. 572 dd 09.12.2014 (family fund under this Decree is provided to families at birth (adoption) of the third and subsequent children in the period 2015-2019), as well as the establishment of norms under the Decree of the President of the Republic of Belarus allowing families early intended use of funds of the family capital.
When managing the family funds during 2021 the Development Bank applied 3 out of 11 possible instruments for depositing family funds (family capital funds were placed in loans to customers, corporate bonds and government securities). The Bank ensured daily compliance with the requirements for the structure of the family fund investment portfolio established by the Family Capital Fund Management Regulations and the Credit Policy - the volume of investments in infrastructure projects on preferential terms did not exceed USD 426 million during the reporting year, while the maximum allowed value – USD 440 million. As of 01.01.2022 the portfolio of family fund investments was formed by loans to customers (USD 400 million or 59.3% of the total amount), corporate bonds (USD 157 million or 23.3%), government securities (USD 117.5 million or 17.4%).
The family capital funds were used for financing of the construction and reconstruction of local roads and overpasses, construction and reconstruction of health care facilities, construction of the artificial runway in the National Airport Minsk, development of the Belarusian Railways, and financial support to other domestic business entities. In total during the year the return on family funds’ investments is maintained at the adequate level which allows to accrue and capitalize interest to the citizens’ deposit accounts and to cover the expenses of project participants.
In 2021 the Development Bank transferred to the special fund USD 4.3 million.
As of 01.01.2022 the aggregate amount of the special fund made USD 28.5 million.
The total amount of funds allocated by the Bank in 2015-2021 to the special fund amounted to USD 84 million, of which USD 55.5 million was early transferred to the national budget in January 2020 in execution of the Decree of the President of the Republic of Belarus No. 252rp dd 26.12.2019. As of 01.01.2022 the aggregate amount of the special fund on the Bank's balance sheet made USD 28.5 million.
