OREANDA-NEWS. November 28, 2012. The Belarusian Innovation Fund (BIF) has been authorized to provide funding for venture projects and start venture companies (except for additional liability companies) at the expense of the funding provided by the state budget in accordance with President Lukashenko’s Ordinance #503.

The ordinance specifies the terms of funding of venture projects, dividend payout and distribution of revenues.

The ordinance became effective on November 13, 2012.