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Maturity of loans provided to woodworking enterprises have been extended by five years

Decree No. 160 as of 9 April 2015 extends the maturity of loans provided to nine woodworking enterprises by 5 years at most.

In 2007, Alexander Lukashenko agreed to provide governmental support to nine enterprises – Borisovdrev, Vitebskdrev, Gomeldrev, Ivatsevichidrev, Mostovdrev, Rechitsadrev, FanDOK, Mogilevdrev and Mozyr DOK. A total of over 1 billion euro of bank loans was provided to these enterprises over six years. 

The upgrade of many enterprises has been completed but the debt burden prevents these enterprises from developing further. New Decree No. 160 was signed “to create conditions for increasing the efficiency of work of woodworking enterprises”. The document recommends the banks of the Republic of Belarus “to extend the maturity of loans (…) by five years at most relative to final maturity”. Thus, the period for the settlement of bank liabilities (Belarusbank, Belagroprombank, BPS-Sberbank and Belinvestbank) may extend to 13 years, i. e. till 2029-2030.


 

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