The system of funding state programs, approved by the president or the government of Belarus, is undergoing some changes due to the creation of a special institute — the Development Bank — whose tasks will include financing of government programs. Decree on the establishment of the "Development Bank of the Republic of Belarus" was signed by President of Belarus Alexander Lukashenko on June 21.
Currently, primarily state-owned banks, in particular, Belarusbank and Belagroprombank, are engaged in state programs funding.
Now Development Bank will be responsible for lending state projects in the manner determined by the Government. However, as noted in the Office of the President, the bank won’t deal with individuals.
According to experts, the creation of the Development Bank and the introduction of a special investment mechanism will increase the efficiency of execution of the projects, included in the state program, as well as will reduce the time of implementation and cost recovery.
