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New rules in the provision of state financial support

On January 10, Decree No. 10 was signed, providing for changes in the sphere of state financial support.

According to the document, state support can be provided in exceptional cases only in the form of a budget loan for investment projects that have passed the state comprehensive examination and have a positive conclusion. 

Legal entities - residents of the Republic of Belarus (with the exception of budget organizations, banks, Development Bank of Belarus, insurance and non-bank credit and financial organizations, unless otherwise specified by the Head of State) and individual entrepreneurs were included in the list of persons entitled to receive state support.

One of the most important conditions for the provision of state support is the achievement by the enterprise of such indicators as:

  • return on sales,
  • labor productivity
  • reducing the cost of production and sales.

Adjustment of indicators is prohibited in the future. In the event that indicators are not achieved, the borrower will have to return the allocated funds to the budget ahead of time.

According to the new document, the borrower is obliged to annually provide information about the achievement of the main indicators, the directions of use of the loan and the performance of obligations under the contract. A mechanism has been established for determining preferential interest rates on loans issued as financial support for the implementation of state programs.