Government allocates Br2bn to support small businesses in Minsk

Br2 billion will be assigned to support the development of small-size entrepreneurship in the Belarusian capital in 2009, Alexander Kalinuski, the head of entrepreneurship department at Minsk City Hall, said in a statement. He did not rule out that the amount could even be increased. The major part of the government funding will be directed to the banking sector which will issue low-interest loans to entrepreneurs.

The loan program will be operated by at least two banks -- Belinvestbank and Belgazprombank.

The Minsk authorities forecast that the share of small-size businesses in the city's industrial output will account for 17-18 percent by 2012 against 10 percent currently.