Set up in 2008 by the National Bank of Belarus and the United Nations Development Programme (UNDP), the Council on Microfinance Sector Development in Belarus has drafted a framework for the development of microfinance in the Republic of Belarus through 2015.
Plans include amending credit union laws, developing legislation specific to microfinance institutions, employing foreign experts to train local specialists and increasing financial literacy levels among the populace. Although limited details are available, the last two points are already beginning to be carried out.
Sources and resources:
Belarusian Telegraph Agency article:
http://www.belta.by/en/news/econom?id=454699
National Bank of the Republic of Belarus
http://www.nbrb.by
United Nations Development Programme
http://www.undp.org/
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