Mogilev Region is planning to invest around BYR 1 trillion in the development of small towns in the coming five years, Interfax learnt from the Economy Committee of the regional administration.
According to the source, 67.2% of the amount will come from bank loans, and 23.7% will be allotted by the regional budget. It is planned to implement over 200 investments projects.
Most of the projects belong to food industry.
Currently the region is implementing 23 sustainable development programs that are expected to help boost the industrial output by 40.8%, expand the output of consumer goods by 41.8% and reduce the rate of unemployment to 1% by the end of 2010.
It is also planned to create over 14,000 jobs and enlarge the number of small enterprises by 50%. The average salary is expected to exceed BYR 984,000 by the end of 2010.
The small town development program also stipulates the upgrading of local production facilities. A hard cheese production line with a daily capacity of 20 tonnes has been installed at Belynichi Branch of Granny's Jar OJSC. It is planned to re-equip other four cheese plants based in Mogilev Region.
The upgrading program will also apply to the local flax-processing plants, the source reported.