Belarus to boost funding for state investment program 50% to $410 mln in 2022

MINSK. July 27 (Interfax) - Belarusian President Alexander Lukashenko has issued an order to increase financing for the state investment program for 2022 by 50%, with funding slated to also go toward projects for which financing was suspended due to sanctions.

"An additional BYR357.1 million will be allocated for the implementation of the measures of the state investment program in 2022. As a result, it will total BYR1.052 billion ($409.9 million at the current exchange rate) instead of the previously planned BYR695 million," the president's press service reported.

"Additional funds will be allocated for construction of republican roads and bridges, the continuation of construction of facilities for which financing was suspended by international financial organizations, construction of a water deironization plant, and the design and construction of rental housing for military personnel and civil servants," the press release said.

The measures being taken will make it possible to increase the number of facilities to be completed this year from 48 to 60, improve transport infrastructure and accelerate work on increasing construction of rental housing, the press service said.

The official exchange rate for July 26 was BYR2.5665/$1.