Young Belarusians granted more options to buy consumer goods with loans

Belarus President Aleksandr Lukashenko signed decree No.95 on 14 March to improve the provision of preferential loans for young specialists and young citizens under 31 to buy household goods.

In line with the document the maximum size of the loan has been raised from Br5,500 to Br12,200. The list of goods that can be bought with these loans has been expanded and now includes all goods of Belarusian make.

The loan can be granted to graduates, who find jobs in a rural population center on their own, to those with vocational training, and to people, who voluntarily sign military service contracts.

The number of employers, whose employees are eligible for soft loans, has been expanded. It now includes all the state-run organizations and organizations with the state share of 50% and above.

At the same time borrowers will face tougher punishments for failing to do their mandatory post-graduation jobs for the required duration: the interest rate on their loans will be recalculated.