Cooperation of the Belarusky Narodny Bank with KfW

mrc_fin14Belaruskiy Narodny Bank started cooperation with German Development Bank (KfW) in order to improve lending and servicing programs for small and medium enterprises (SMEs). One of the KfW activities is assisting SME development in CIS countries. Cooperation with KfW is implemented through the technical assistance program TRANSFORM, financed by the German Ministry of Finance and by the German Ministry of Economy and Technology.

As part of the TRANSFORM program, the German government draws the attention of leading consulting companies that specialize in training bank employees working with SMEs.

One of these consulting companies is the Swiss-based company Business & Finance Consulting (BFC). BFC has provided training to specialists of Belarusky Narodny Bank. BFC consultants have advised the bank management on a broad spectrum of problems concerning small and medium enterprises, which are the bank’s target sector.

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Victor Doronkevich, Deputy General Director or Belarusky Narodny Bank, stated that “the cooperation of Belarusky Narodny Bank with KfW in the area of small and medium business will certainly facilitate further development of employee qualifications and it will provide quality improvement for servicing small and medium enterprises. We are very grateful to KfW for assistance and to BFC for providing high level training to our employees.”