Development Bank of the Republic of Belarus (DBRB)
Development Bank of the Republic of Belarus (the DBRB) – a specialized financial institution established in accordance with Decree of the President of the Republic of Belarus dated June 21, 2011 № 261 (hereinafter - Decree No. 261). The Bank is founded by the Council of Ministers and the National Bank of the Republic Belarus. The Bank is formed as a legal entity and is not a classical credit financial institution in the definition established by the Banking Code of the Republic of Belarus. Accordingly, the Bank cannot be referred to second-tier banks in the traditional interpretation of the term.
Creation of the DBRB was carried out in close cooperation with the leading international financial institutions, in particular, the International Monetary Fund and the World Bank and based on the analysis of international practice of the similar institutions functioning.
The main objective of the DBRB is elaboration of financing system for government programs and the implementation of socially significant investment projects.
Three main goals set to the DBRB are:
financing of long-term and capital-intensive investment projects in the framework of government programs and activities implementation;
supporting small and medium-sized enterprises by means of special credit products granted through a network of partner banks;
extension of concessional export credits to support large (over USD 1 million) projects of domestic exporters.
Activities of the DBRB are comprehensively regulated by the special legal act having the force of law – Decree No. 261. This document states that in the part not regulated by the Decree itself the Law on banking activities may be applied to the Development Bank.
Pursuant to the Decree of the President of the Republic of Belarus dd May 31, 2016 No184 the DBBR activities are supervised by the National Bank of the Republic of Belarus. The legal requirements as regards banking supervision over banks and non-bank credit and finance entities shall apply to the Development Bank subject to peculiarities specified by the National Bank.
To achieve the objective and goals of their activities the DBRB is authorized to perform certain active and passive operations, which are typical for commercial banks (lending, budget fundraising to deposits, placing of funds on the market, opening of accounts, clearing transactions, foreign exchange transactions) but without obtaining the National Bank’s license thereto.
The DBRB is granted the exclusive right to act as the Government’s agent bank to serve and repay external government loans.See more