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Three large-scale loan programs aimed at supporting entrepreneurship have been launched in Belarus: “Tourism Potential,” “Strong Regions,” and “Technological Self-Sufficiency.” At the government’s initiative, the Development Bank and commercial banks are offering businesses favorable terms, including preferential interest rates of 6–7% per annum for the first seven years, loan amounts of up to 200 million rubles, and repayment periods of up to 15 years, BELTA reports.
The “Tourism Potential” program is designed for those who build or renovate hotels, sanatoriums, campsites, and glamping facilities in the regions. Projects in accommodation, catering, health improvement, and recreation outside Minsk are eligible for support. The main goal of the initiative is to make domestic tourism in Belarus modern and accessible.
The “Strong Regions” track focuses on developing manufacturing in small and medium-sized cities. Loans are provided for the creation of new production facilities or the modernization of plants in the manufacturing sector, as well as for important social and medical projects. This will help strengthen regional economies and create new jobs away from regional centers.
The “Technological Self-Sufficiency” program includes two key areas. The first focuses on import substitution and processing of local raw materials, including furniture production and linen-based products. The second supports high technologies, such as the development of industrial robots, unmanned systems, and biotechnology projects.
The new financial products address the main challenge faced by businesses — the lack of accessible long-term capital. Thanks to low interest rates at the initial stage, projects receive the necessary financial cushion, which is critically important for achieving successful payback.
ORIENT
