Committee for Economy: Investment Project Competition for Business Entities Announced

State financial support is provided to small business entities of the Vitebsk region, as well as additionally to medium-sized business entities of the Orsha district of the Vitebsk region, 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 accessories, purchase of components, raw materials and materials for own production and service provision.

State financial support is provided by granting:

• subsidies to reimburse part of the interest for using bank loans,
• subsidies to reimburse part of the expenses for paying lease payments under financial lease agreements.

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

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

• in Belarusian rubles, is carried out in the amount not exceeding 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 not exceeding 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.

Reimbursement of part of the expenses for paying lease payments under financial lease agreements is made in an amount not exceeding 0.5 of the lessor's remuneration (income).

In case of acquisition of leased assets for foreign currency, reimbursement of part of the expenses for paying lease payments is made in Belarusian rubles at the official exchange rate of the National Bank on

the date of the decision to reimburse part of the expenses for these payments.

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

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