The family capital program has been extended for the period from 1 January 2020 till 31 December 2024. Besides, the provisions under which families with many children can use family capital earlier have been reviewed in accordance with Decree No. 345 “On family capital” which was signed by Belarus President Aleksandr Lukashenko on 18 September.
Family capital will be formed in Belarusian rubles with a basic amount of Br22,500 as from 1 January 2020. Apart from that, family capital will be annually adjusted to the consumer price index in order to preserve its purchasing power.
In accordance with the decree, family capital is provided to a Belarusian family upon the birth (adoption) of a third and subsequent children (hereinafter referred to as the child) provided that there are at least three children under 18, including a newborn or a newly adopted child, in this family.
In order to get family capital, a family needs to apply to local executive and regulatory bodies within six months after the birth (adoption) of the child. Family capital becomes available once the child turns 18.
After the child turns 18, the money can be used to improve housing conditions, get education, social services and healthcare services, or be deposited to a mother's pension account.
The money can also be used earlier to improve housing conditions of families with many children if they are on waiting lists; get education (family members can pay tuition fees at state colleges and universities); pay for healthcare services in healthcare institutions.
The procedure and purposes for using the money is set by the Council of Ministers.
Family capital deposit accounts will be opened at Belarusbank.
The money will be returned to the state budget if citizens do not apply for it within three years after the child turns 18 or do not use it within five years after a corresponding application is submitted.
In order to provide equal opportunities to families who got family capital in 2015-2019, the decree also enables them to use the money earlier under the abovementioned provisions.