Belarusian Fund for Financial Support of Entrepreneurs

The Belarusian Fund for Financial Support of Entrepreneurs supports and develops small entrepreneurship in the Republic of Belarus, targeting individual entrepreneurs, micro-organizations (commercial, up to 15 people), and small organizations (commercial, from 16 to 100 people). State support is provided in the form of financial resources on a reimbursable or non-repayable basis, property under financial lease (leasing), and guarantees on preferential loans, including microcredits provided by banks of the Republic of Belarus.

Support is directed towards the creation, development and expansion of production of goods and services, organization of export-oriented and import-substituting production, energy and resource saving, introduction of new technologies, construction and acquisition of buildings and premises, acquisition of equipment and vehicles, as well as procurement of raw materials for own production.

Key conditions include the creation of new jobs, availability of security for the fulfillment of obligations, and compliance with revenue limits established by the Government. Financial support is provided for up to 5 years on loan terms, from 1 to 5 years under leasing, and up to 8,000 base units per entity, with a total cap of 10,000 base units. All transactions are conducted in the national currency of the Republic of Belarus by bank transfer.

The program is based on the Decree of the President of the Republic of Belarus No. 136 of March 18, 1998 (as amended on July 18, 2016) and is available at the republican level.

Further information can be found at: http://belarp.by