The Development Bank of the Republic of Belarus (DBRB) will receive $25 mln from the Khalifa Fund for Enterprise Development (UAE) for supporting small and medium businesses.
The chairman of the Development Bank is former deputy prime minister Syarhei Rumas. Interestingly, the department of security and information protection is headed by ex-KGB chief Stsyapan Sukharenka.
The UAE government founded the Khalifa Fund in 2007 as an independent non-commercial organization. Its capital exceeds $540 million.
“As a national development institution we try to provide maximum and comprehensive assistance to Belarusian small and medium businesses. It is very important for us that we can find like-minded people, partners, and friends abroad, who share our views and values. The signing of the memorandum of understanding with the Khalifa Fund for Enterprise Development is a vivid example of that,” state-run news agency BelTA quotes Syarhei Rumas.
In 2016, the Khalifa Fund launched the project of developing small and medium businesses in Chechnya. 67,000 are expected to be created as part of the project.