Belarusbank announced Friday that it would be investing in development projects in the Naroch region of Belarus.

The aim for much of the development in the region is to enhance its tourism industry and branding the region as a resort area. Among the projects that the bank is supporting are the Naroch Hotel reconstruction and a therapeutic facility. There are also plans to build a concert hall and restaurant within an existing facility called "Sputnik."

This development is aligned with a decree from Belarus President Alexander Lukashenko that would develop the region's tourism industry, seeking to improve the regional and national economy and make the Naroch region the premier travel destination in Belarus for domestic and international travelers alike.

Bank officials say they will continue their involvement in developing the region's cultural, tourism and entertainment sectors.