National News

Belarus’ Development Bank supports extension of family capital program

The Development Bank of the Republic of Belarus (DBRB) supports the extension of the family capital program, BelTA learned from DBRB Chairman of the Board Andrei Zhishkevich.

The official said: “There is no doubt we need a program to support families with many kids by means of providing family capital.”

Andrei Zhishkevich pointed out that the program’s effectiveness is confirmed first and foremost by the achievement of the goal to improve the demographic situation in the country. Before the program was launched in 2014 the number of children, who were born as the third child and consequent children, slightly exceeded 17,000. In 2018 their number went past 20,000.

According to the source, another goal of the program is to provide long-term sources of finance for the national economy. “As you know, the Development Bank manages family capital until the child comes of age, in other words, virtually until the child is 18. The money the Development Bank gets is primarily used to finance infrastructure and investment projects of national importance,” the DBRB chairman of the board explained.

BelTA reported earlier that the family capital program in Belarus will stay in place till 31 December 2019. Suggestions have been made to extend the program onto 2020-2024 and update it.

BELARUSIAN NEWS