Operating principles of the social entrepreneurship support fund will be developed in Belarus by the end of 2019 as part of the project "Support to Economic Development at the Local Level in the Republic of Belarus", Natalia Adamchik, UNDP Local Initiative Contest Coordinator told BelTA in Vitebsk on 5 September during a seminar for participants of the local initiative contest that was called to select the best ideas aimed at supporting infrastructure of SMEs and entrepreneurship.
The project "Support to Economic Development at the Local Level in the Republic of Belarus" is run by the United Nations Development Program in collaboration with the Belarusian Economy Ministry. The project is funded by the European Union. The project aims to finance business ideas and enterprises aimed at addressing socially important issues (EASIs). This pertains to issues facing vulnerable groups, like people with disabilities or young mothers who cannot find a job after a maternity leave, young people and the elderly. These issues will be addressed by a working group consisting of representatives of ministries and government agencies, as well as international experts. They will develop operating mechanisms for the social entrepreneurship support fund. Some $1.8 million will be allocated to support social entrepreneurship, Natalia Adamchik said.
The project "Support to Economic Development at the Local Level in the Republic of Belarus" was registered by the Economy Ministry on 1 February 2019. Its implementation period is 36 months. The project is set to run till 31 January 2022. The project aims to encourage various forms of economic initiatives, promote competitiveness and incentivize innovative activities for inclusive development at the local level. The participants of the seminar in Vitebsk were introduced to the main stages of project work, learned to prepare applications and a budget of their initiatives.