A competition for investment projects of small business entities has been announced for the provision of state financial support

The Vitebsk Regional Executive Committee's Economy Committee announces a competition for investment projects of small businesses to provide state financial support (more detailed information about the competition + application form >>).

State financial support is provided to small businesses implementing investment projects, business projects, for the purpose of construction, acquisition of capital structures (buildings, structures), isolated premises and (or) their repair and reconstruction, acquisition of equipment, vehicles, special devices and appliances, purchase of components, raw materials and materials for their own production and service provision.

State financial support is provided by:

• subsidies to reimburse part of the interest for the use of bank loans,
• subsidies to reimburse part of the expenses for making lease payments under financial lease agreements

A mandatory condition for providing state financial support on a competitive basis to small businesses is the creation of new jobs.

Reimbursement of part of the interest for the use of bank loans obtained:

• in Belarusian rubles, is carried out in the amount of not more than 0.5 of the refinancing rate of the National Bank of the Republic of Belarus, established on the date of reimbursement of part of the interest;
• in foreign currency – in the amount of not more than 0.5 of the loan rate.

Reimbursement is made in Belarusian rubles at the official exchange rate of the National Bank of the Republic of Belarus on the date of the decision to reimburse part of the interest.

The Vitebsk Regional Executive Committee's Economy Committee accepts documents for participation in the competition.