Belarus MSME Access to Finance Project

Abstract*

The objective of the Micro, Small, and Medium Enterprise Access to Finance Project is to improve access to finance for private MSMEs and enhance governance and the institutional capacity of the Development Bank of the Republic of Belarus. There are three components to the project, the first component being line of credit to MSMEs. Component one will facilitate increased access and availability of finance for MSMEs by financing wholesale lending by... Show More

Development Objective

The Project Development Objective (PDO) is to improve access to finance for private MSMEs and enhance governance and the institutional capacity of the Development Bank of the Republic of Belarus.

Key Details

Project Details

Project ID
P152276
Status
Closed
Team Leader
Natalie Nicolaou
Borrower 2
Development Bank of the Republic of Belarus

Country
Belarus
Disclosure Date
August 8, 2017
Approval Date
(as of board presentation)
September 28, 2017
Effective Date
April 19, 2018

Total Project Cost 1
US$ 60.00 million
Implementing Agency
Development Bank of the Republic of Belarus
Region
Europe and Central Asia
Fiscal Year 3
2018

Commitment Amount
US$ 60.00 million
Environmental Category
B
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2022

Last Stage Reached
BANK APPROVED
Last Update Date
June 22, 2023

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change0%
- FY17 - Mitigation0%

FY17 - Finance

FY17 - Financial Infrastructure and Access95%
- FY17 - MSME Finance95%
FY17 - Financial Stability6%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring6%

FY17 - Private Sector Development

FY17 - Enterprise Development95%
- FY17 - MSME Development95%
FY17 - Jobs95%
- FY17 - Job Creation95%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	60.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	60.00
IDA Commitment	N/A
IBRD + IDA Commitment	60.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	60.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

No data available.

Detailed Financial Activity as of June 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 3, 2020	IBRD-86960	Loan Disb	955,892.30
Jan 2, 2020	IBRD-86960	Loan Disb	587,773.30
Jan 2, 2020	IBRD-86960	Loan Disb	1,151,556.10
Feb 28, 2020	IBRD-86960	Loan Disb	1,813,867.20
Feb 12, 2020	IBRD-86960	Loan Disb	100,000.00
Dec 30, 2019	IBRD-86960	Loan Disb	1,252,220.20
Dec 27, 2019	IBRD-86960	Loan Disb	170,556.75
Mar 26, 2020	IBRD-86960	Loan Disb	526,585.94
Mar 26, 2020	IBRD-86960	Loan Disb	1,326,189.20
Dec 6, 2019	IBRD-86960	Loan Disb	1,265,336.20
Dec 18, 2019	IBRD-86960	Loan Disb	553,097.94
Mar 17, 2020	IBRD-86960	Loan Disb	1,215,815.50
Jan 15, 2020	IBRD-86960	Loan Disb	406,171.90
Jan 27, 2020	IBRD-86960	Loan Disb	1,473,975.60
Dec 23, 2019	IBRD-86960	Loan Disb	348,626.22
Dec 4, 2019	IBRD-86960	Loan Disb	246,800.00
Jan 6, 2020	IBRD-86960	Loan Disb	1,131,992.20
Feb 25, 2020	IBRD-86960	Loan Disb	146,790.00
Feb 5, 2020	IBRD-86960	Loan Disb	1,432,084.00
Apr 21, 2020	IBRD-86960	Loan Disb	566,453.06
Apr 26, 2018	IBRD-86960	Fee Charges	150,000.00
Dec 21, 2018	IBRD-86960	Loan Disb	680,500.00
Oct 15, 2018	IBRD-86960	Int Charges	126,575.34
Feb 19, 2019	IBRD-86960	Loan Disb	791,000.00
May 7, 2019	IBRD-86960	Loan Disb	747,679.50
Apr 18, 2019	IBRD-86960	Loan Disb	1,069,130.00
Jul 2, 2019	IBRD-86960	Loan Disb	520,436.22
Jun 25, 2019	IBRD-86960	Loan Disb	47,884.00
Jun 20, 2019	IBRD-86960	Loan Disb	492,165.12
May 17, 2019	IBRD-86960	Loan Disb	1,024,729.80
Jun 3, 2019	IBRD-86960	Loan Disb	1,232,880.50
Apr 15, 2019	IBRD-86960	Int Charges	7,157.53
Apr 1, 2019	IBRD-86960	Loan Disb	611,354.00
May 23, 2019	IBRD-86960	Loan Disb	546,165.10
Aug 2, 2019	IBRD-86960	Loan Disb	794,896.40
Apr 15, 2019	IBRD-86960	Int Charges	8,049.49
Oct 15, 2022	IBRD-86960	Int Charges	468.68
Apr 15, 2023	IBRD-86960	Int Charges	31,391.75
Apr 15, 2023	IBRD-86960	Int Charges	32,826.30
Apr 15, 2023	IBRD-86960	Int Charges	0.01
Apr 15, 2023	IBRD-86960	Int Charges	865,947.40
Oct 15, 2023	IBRD-86960	Int Charges	73,189.32
Oct 15, 2023	IBRD-86960	Int Charges	43.50
Oct 15, 2023	IBRD-86960	Int Charges	0.01
Oct 15, 2023	IBRD-86960	Int Charges	1,228,690.80
Apr 15, 2024	IBRD-86960	Int Charges	70,113.24
Apr 15, 2024	IBRD-86960	Int Charges	678.82
Apr 15, 2024	IBRD-86960	Int Charges	874.13
Apr 15, 2024	IBRD-86960	Int Charges	1,400,355.60
Sep 28, 2017	IBRD-86960	Loan Commitment	60,000,000.00
Apr 15, 2021	IBRD-86960	Int Charges	74.70
Apr 15, 2021	IBRD-86960	Int Charges	171,102.44
Apr 15, 2021	IBRD-86960	Int Charges	1,235.71
Apr 15, 2021	IBRD-86960	Int Charges	2,570.97
Apr 15, 2021	IBRD-86960	Int Charges	2,735.56
Apr 15, 2021	IBRD-86960	Int Charges	1,499.86
Oct 15, 2021	IBRD-86960	Int Charges	1,232.51
Oct 15, 2021	IBRD-86960	Int Charges	75.21
Oct 15, 2021	IBRD-86960	Int Charges	75.21
Oct 15, 2021	IBRD-86960	Int Charges	15,898.78
Oct 15, 2021	IBRD-86960	Int Charges	1,232.51
Oct 15, 2021	IBRD-86960	Int Charges	157,117.34
Jul 7, 2022	IBRD-86960	Loan Cancel	60,000.00
Jul 7, 2022	IBRD-86960	Loan Cancel	862,978.50
Jun 30, 2022	IBRD-86960	Int Charges	74.79
Jun 30, 2022	IBRD-86960	Int Charges	14,793.35
Jun 29, 2022	IBRD-86960	Int Charges	1,110.65
Jun 29, 2022	IBRD-86960	Int Charges	142,694.31
Oct 12, 2022	IBRD-86960	Int Charges	422.09
Oct 15, 2022	IBRD-86960	Int Charges	180,352.44
Oct 15, 2022	IBRD-86960	Int Charges	34.12
Oct 15, 2022	IBRD-86960	Int Charges	30,935.54
Apr 20, 2020	IBRD-86960	Loan Disb	1,650,563.50
Apr 15, 2020	IBRD-86960	Int Charges	554.07
Apr 15, 2020	IBRD-86960	Int Charges	26,237.73
Apr 15, 2020	IBRD-86960	Int Charges	220.56
Apr 15, 2020	IBRD-86960	Int Charges	82,279.81
Apr 15, 2020	IBRD-86960	Int Charges	26,237.73
Apr 15, 2020	IBRD-86960	Int Charges	4,411.45
Apr 15, 2020	IBRD-86960	Int Charges	1,288.55
Apr 15, 2020	IBRD-86960	Int Charges	14,286.19
Apr 15, 2020	IBRD-86960	Int Charges	220.56
May 14, 2020	IBRD-86960	Loan Disb	1,860,419.50
Jun 5, 2020	IBRD-86960	Loan Disb	1,408,721.60
Jul 20, 2020	IBRD-86960	Loan Disb	910,869.20
Sep 2, 2020	IBRD-86960	Loan Disb	1,686,668.60
Jul 14, 2020	IBRD-86960	Loan Disb	1,637,910.60
Oct 15, 2020	IBRD-86960	Int Charges	2,072.08
Oct 15, 2020	IBRD-86960	Int Charges	14,211.63
Oct 15, 2020	IBRD-86960	Int Charges	184,474.73
Oct 15, 2020	IBRD-86960	Int Charges	50.14
Oct 15, 2020	IBRD-86960	Int Charges	3,722.85
Oct 15, 2020	IBRD-86960	Int Charges	598.19
Oct 15, 2020	IBRD-86960	Int Charges	3,772.99
Oct 15, 2020	IBRD-86960	Int Charges	23,612.91
Sep 28, 2020	IBRD-86960	Loan Disb	2,050,536.00
Nov 2, 2020	IBRD-86960	Loan Disb	1,493,306.40
Oct 15, 2020	IBRD-86960	Int Charges	13,064.33
Oct 15, 2020	IBRD-86960	Int Charges	1,147.30
Oct 9, 2020	IBRD-86960	Loan Disb	1,642,657.80
Aug 25, 2020	IBRD-86960	Loan Disb	1,950,881.40
Jul 2, 2020	IBRD-86960	Loan Disb	1,367,996.40
Dec 23, 2020	IBRD-86960	Loan Disb	1,509,820.40
Dec 4, 2020	IBRD-86960	Loan Disb	1,748,489.20
Apr 15, 2021	IBRD-86960	Int Charges	74.70
Apr 15, 2021	IBRD-86960	Int Charges	16,147.61
Apr 15, 2019	IBRD-86960	Int Charges	66,673.46
Apr 15, 2019	IBRD-86960	Int Charges	297.97
Nov 7, 2019	IBRD-86960	Loan Disb	1,602,007.00
Nov 20, 2019	IBRD-86960	Loan Disb	442,260.00
Jul 17, 2019	IBRD-86960	Loan Disb	681,669.75
Sep 26, 2019	IBRD-86960	Loan Disb	289,908.47
Oct 7, 2019	IBRD-86960	Loan Disb	703,108.90
Oct 15, 2019	IBRD-86960	Int Charges	10,969.39
Sep 27, 2019	IBRD-86960	Loan Disb	379,713.34
Oct 15, 2019	IBRD-86960	Int Charges	29,219.44
Oct 15, 2019	IBRD-86960	Int Charges	297.97
Oct 15, 2019	IBRD-86960	Int Charges	124.39
Nov 4, 2019	IBRD-86960	Loan Disb	1,116,450.00
Sep 16, 2019	IBRD-86960	Loan Disb	518,755.40
Oct 25, 2019	IBRD-86960	Loan Disb	999,148.60
Aug 23, 2019	IBRD-86960	Loan Disb	518,768.03
Oct 15, 2019	IBRD-86960	Int Charges	24,480.31
Oct 15, 2019	IBRD-86960	Int Charges	0.01
Oct 15, 2019	IBRD-86960	Int Charges	4,342.56
Oct 15, 2019	IBRD-86960	Int Charges	29,517.42
Oct 15, 2019	IBRD-86960	Int Charges	57.50
Oct 15, 2019	IBRD-86960	Int Charges	23,271.93
Oct 15, 2019	IBRD-86960	Int Charges	377.66
Oct 3, 2019	IBRD-86960	Loan Disb	774,668.40
Oct 24, 2019	IBRD-86960	Loan Disb	528,889.75
Oct 18, 2019	IBRD-86960	Loan Disb	473,911.44
Oct 30, 2019	IBRD-86960	Loan Disb	281,373.94
Oct 30, 2019	IBRD-86960	Loan Disb	124,560.80
Sep 30, 2019	IBRD-86960	Loan Disb	783,901.56
Nov 18, 2019	IBRD-86960	Loan Disb	647,761.44
Nov 18, 2019	IBRD-86960	Loan Disb	200,000.00
Jan 10, 2020	IBRD-86960	Loan Disb	1,971,115.10

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2022-12-22
Financial Management	Satisfactory	2022-12-22
Monitoring and Evaluation	Satisfactory	2022-12-22
Procurement	Satisfactory	2022-12-22
Project Management	Satisfactory	2022-12-22
Overall Implementation Progress (IP)	Moderately Satisfactory	2022-12-22

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-19-2023
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 08-21-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	High	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Governance and business model of DBRB strengthened Value No Yes
Date September 30, 2017 December 30, 2022
Comment
Growth of DBRB MSME loan portfolio provided through participating financial institutions (PFIs) (percent) Value 0.00 170.00 130.00
Date September 30, 2017 December 30, 2022 December 31, 2021
Comment
Number of MSME beneficiaries that obtained credit under the project Value 0.00 150.00 0.00
Date September 30, 2017 December 30, 2022
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Volume of loans disbursed under the project (US$, millions) Value 0.00 56.20 0.00
Date September 30, 2017 December 30, 2022
Comment
Financial Sustainability: Return on Assets (%) Value n/a n/a
Date September 30, 2017 December 30, 2022
Comment
Number of active PFIs under the project (cumulative) Value 0.00 5.00 0.00
Date September 30, 2017 December 30, 2022
Comment
Financial Sustainability: Return on Equity (%) Value n/a n/a
Date September 30, 2017 December 29, 2022
Comment
Portfolio Quality: Portfolio at risk (%) Value n/a n/a
Date September 30, 2017 December 30, 2022
Comment
Compliance with prudential regulation Value Yes Yes
Date September 30, 2017 December 30, 2022
Comment

Gender: share of businesses beneficiaries that obtained credit under the project with at least 15 percent female workforce participation (percent)	Value	0	n/a
	Date	September 30, 2017	December 30, 2022
	Comment

Citizen Engagement: MSMEs that report that project sub-finance reflected their needs (Percentage) Value 0 90
Date September 30, 2017 December 30, 2022
Comment

Growth of DBRB MSME loan portfolio provided through participating financial institutions (PFIs) (percent)	Value	0.00	170.00	130.00
	Date	September 30, 2017	December 30, 2022	December 31, 2021
	Comment

Compliance with prudential regulation	Value	Yes	Yes
	Date	September 30, 2017	December 30, 2022
	Comment