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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of June 21, 2011 No. 261

About creation of "Development Bank of the Republic of Belarus" open joint stock company

(The last edition from 31-05-2016)

For the purpose of enhancement of financing of state programs and socially important investment projects:

1. Determine that:

1.1. "Development Bank of the Republic of Belarus" open joint stock company which founders are the Council of Ministers of the Republic of Belarus and National Bank (further - Development bank):

is not bank, the non-bank credit and financial organization in the value determined in articles 8 and 9 of the Bank code of the Republic of Belarus and during its creation, reorganization and liquidations are not applied the requirements of the legislation provided for banks and the non-bank credit and financial organizations;

performs activities according to the Constitution of the Republic of Belarus, the laws of the Republic of Belarus, decisions of the President of the Republic of Belarus and the Government of the Republic of Belarus, the Charter of "Development Bank of the Republic of Belarus" open joint stock company (further - the Charter) and other acts of the legislation. The legislation on banking activity is applied to Development bank if other is not established by this Decree;

1.2. the main objectives of Development bank are:

financing of investment projects, and also the actions providing purchase of goods for their transfer to finance lease (leasing), for the decision of the President of the Republic of Belarus and (or) the Government of the Republic of Belarus, and also included in the programs approved by the President of the Republic of Belarus and (or) the Government of the Republic of Belarus (further - state programs and actions), by loan granting on their realization on its own behalf and at own expense on the terms of urgency, the paid nature and recoverability according to the procedure, established by Council of Ministers of the Republic of Belarus in coordination with the President of the Republic of Belarus, acquisition of bonds of the legal entities participating in implementation of state programs and actions, in other ways, who is not prohibited by the legislation;

acquisition of assets * banks according to lists of such assets and rather, approved by Council of Ministers of the Republic of Belarus (further - assets);

provision on the conditions determined in subitem 3.1 of Item 3 of the Presidential decree of the Republic of Belarus of August 25, 2006 No. 534 "About assistance to commodity export development (works, services)" (The national register of legal acts of the Republic of Belarus, 2006, No. 143, 1/7870), export loans a minimum of 1 million US dollars:

to the organizations - residents of the Republic of Belarus for acquisition in property of goods of other residents of the Republic of Belarus for their transfer to leasing to the organizations which are not residents of the Republic of Belarus;

to the organizations which are not residents of the Republic of Belarus including foreign banks, for payment for the Republic of Belarus implemented by residents goods (works, services);

other tasks determined by the Charter.

Compensation of losses of Development bank from provision of export loans is made according to the procedure and the sizes determined by Council of Ministers of the Republic of Belarus on condition of insurance of export risks with support of the state;

______________________________

* For the purposes of this Decree assets are understood as the credits issued by banks till January 1, 2011 according to decisions of the President of the Republic of Belarus or the Government of the Republic of Belarus.

1.3. according to the requirements established by the legislation for banks and the non-bank credit and financial organizations without receipt of special permission (license) for implementation of banking activity Development bank performs:

crediting of the projects included in state programs and actions;

attraction of financial resources of the budget in deposits;

opening and maintaining correspondent accounts, other accounts which opening is directly connected with accomplishment of the tasks assigned to Development bank and the transactions performed by it;

opening and maintaining special accounts for accumulation of money (further - special accounts) on which the legal entities participating in implementation of state programs and actions (further - project participants), allocate money in the amount of, necessary for debt repayment before Development bank, and also on account of compensation from budget funds of part of interest for using the credits. Allocated on the specified accounts funds are spent for debt repayment before Development bank, including for acquisition of foreign currency for debt repayment in foreign currency. After debt repayment the balance in cash from the special account is transferred to the project participant into its current (settlement) account;

carrying out calculations in non-cash form through the correspondent and other accounts opened by Development bank in National Bank and other banks;

the currency transactions which are directly connected with accomplishment of the tasks assigned to Development bank and the transactions performed by it.

Opening of the current (settlement) accounts to legal entities and individual entrepreneurs by Development bank is not performed.

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