Private sector companies in Belarus will have more opportunities for growth thanks to enhanced access to finance following a €15 million loan by the EBRD to Raiffeisen Leasing Belarus (RLB).
The finance provided to the country’s largest private leasing company will support leasing operations of Belarusian small and medium-sized enterprises (SMEs) and contribute to the development of the domestic leasing market.
SMEs contribute almost 24 per cent to Belarus’ GDP and employ over 30 per cent of the country’s workforce. They are playing a very important role in the national economy and in order to grow and prosper need regular access to affordable sources of funding.
The loan, the third EBRD project with RLB since 2017, continues the successful cooperation with Raiffeisen Bank International and its subsidiaries in Belarus which started over a decade ago.
Since the start of its operations in Belarus in 1992, the EBRD has invested almost €2.5 billion in 115 projects in various sectors of the country’s economy.
