Considerable support for small businesses

In 2010, seven commercial banks of Belarus granted loans to businessmen at an interest rate not exceeding the refinancing rate of the National Bank, as a result of the 2010-2012 state programme to support small entrepreneurs
The business community is positively responding to state initiatives, with over 100 small-sized businesses registered as part of state economic programmes. Statistics show that, last year, 116 applications were received from small businesses, with 108 selected. Alexander Likhachevsky, the Director of the Economy Ministry’s Entrepreneurship Department, lists several successful projects. The manufacture of veterinary medicines is being set up in the Gomel Region while entrepreneurs in the Mogilev Region are taking part in the construction of a wind-driven power plant. Soon, a plant to refine and deodorise vegetable oil is to appear in the Grodno Region, involving small businesses.
The state aims to continue dialogue, with a draft plan on the implementation of Directive #4 being prepared. This should inspire further business activity.
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