To accumulate the part of profits received from family funds management under the Decree of the President of the Republic of Belarus dd December 9, 2014 No572 “Concerning additional measures to support families with children” the Development Bank annually transfers part of profits to a special purpose fund. The special purpose fund is formed on a first priority basis when the General Shareholders meeting distributes the profit received as a result of the Bank’s activities throughout the year.
The share of profit to be transferred to the special purpose fund is defined in line with the Regulation on procedure and amounts of annual transfer of part of the profit to special purpose fund of JSC Development Bank of the Republic of Belarus intended for accumulation of part of profits received from family funds management as approved by the Resolution of the Supervisory Board of the Development Bank dd 26.02.2015 No1. Allocations to the special purpose fund received from family fund management for a definite year (from 2015 to 2021) are effected annually for a period of 18 years starting from the year when the family funds were received from JSC “JSSB Belarusbank” for management.
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 No. 252rp dd 26.12.2019. Thus, as of 01.01.2022 the aggregate amount of special purpose fund on the Bank's balance sheet was formed in the amount of USD 28.5 million, including in 2019-2021:
from management of family funds received in 2015 – USD 3,98 million;
from management of family funds received in 2016 – USD 7,51 million;
from management of family funds received in 2017 – USD 6,73 million;
from management of family funds received in 2018 – USD 5,93 million;
from management of family funds received in 2019 – USD 3,77 million;
from management of family funds received in 2020 – USD 0,56 million;
from management of family funds received in 2021 – USD 0,02 million.
