19 January 2012 г. в 10:21
Funding of projects implemented under the state programs will be carried out under new terms and conditions. Now, the Development Bank of the Republic of Belarus will provide funds for these projects along. A new procedure for financing is secured by a joint decree № 14 / 1 of the Government and the National Bank.
According to the document, the Development Bank will provide loans in Belarusian rubles and foreign currency on its own behalf and at its own expense in terms of maturity, interest payment and settlement. Loans in foreign currency will be issued only on fx recompensing projects with sufficient currency, remaining at the borrower after its compulsory sale.
Priority will be given to projects of housing construction in rural areas, development of agriculture, as well as programs for development of high-tech industries.
Under the terms of lending, legal entities will be reimbursed part of the interest on loans, as well as provided with loans on concessional terms.
Specific volumes, directions and sources of credit are defined in the forecast balance of the Development Bank in accordance with the annual plan of financing state programs established by the Council of Ministers.
Under the new conditions of financing government programs, credits may be granted after a borrower’s set up a bank account in the Development Bank for the accumulation of the proceeds (less than 10%) to pay off the existing debt. At the same time, the insurance of loan default risks should be necessarily implemented, as well as placement in the bank of a security deposit sufficient to fully repay the debt.
In case of arrears to the Bank, new loans will not be issued to the applicant. In addition, in this case, the bank may suspend disbursement of loans under previously signed contracts.
The Development Bank may involve the agent banks for loaning the state programs. In this case, the Development Bank assumes responsibility for all the risks on credit obligations.
The interest rate on loans should be established by state programs or the Development Bank itself.
The bank addresses the question of granting a loan based on the business plan of the investment, if it is found cost effective and financially feasible. The maximum repayment period is 15 years (unless otherwise is provided by state programs). When lending to government programs from the budget, the Bank may also attract the Treasury funds.
As Telegraf previously reported, the Development Bank of the Republic of Belarus, to deal with financing of government programs, was established by the presidential decree on June 21. To date, the state programs have been mainly funded by state-owned banks, in particular, by Belarusbank and Belagroprombank.
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