State support measures for small businesses are being improved in Belarus

March 18, Minsk /BELTA/. State support measures for small businesses are being improved in Belarus. The corresponding Decree No. 126, which introduces additions and amendments to Decree No. 255 of May 21, 2009 "On Certain Measures of State Support for Small Business", was signed by the President of Belarus on March 17, BELTA was informed by the press service of the head of state.

The document provides for granting small businesses the right to receive state financial support in the form of reimbursement of part of the expenses related to participation in exhibition and fair events, as well as compensation for advertising expenses of organized events in the media after their completion, and the possibility of lending long-term (up to seven years) investment projects implemented by small businesses, at the expense of regional executive committees, Minsk City Executive Committee.

In addition, the decree provides for the adjustment of the mechanism for providing state support to small businesses, ensuring a clearer procedure for its provision. In particular, the procedure for changing the interest rate (linked to the refinancing rate of the National Bank) for placing local budget funds on deposit, as well as the rates on bank loans, borrowings and lease agreements concluded within the framework of state support programs for entrepreneurship, is clarified.

These measures will increase the efficiency of using budget funds provided for state support programs for small and medium-sized businesses, and will also contribute to increasing the volume of manufactured products, creating new jobs, and developing exports.

The decree enters into force three months after its official publication.-0-