Belarus took additional measures to financially support exports

The President of Belarus, Aleksandr Lukashenko, has signed Decree No. 294 On Subsidiary Liability, sb.by reports with reference to the Head of State’s press service

“The document was adopted to further improve the integrated export promotion system and take additional measures to protect the property interests of its participants,” the press service noted.

The decree introduced subsidiary liability of the Republic of Belarus (represented by the Government) under the contracts of insurance (reinsurance) of export risks concluded by Beleximgarant (a Belarusian republican unitary enterprise specialising in export and import insurance) with the support of the state.

The document also determines the conditions and procedure for bringing the country to subsidiary liability for these obligations.

The innovations of the decree will enable banks – in conditions of a decrease in the possibility of attracting external resources – to provide further financial support for exports of the real sector of the economy.