19 June 2019, Wednesday, 23:16
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Ministry of Finance: China grants credits of $3.5 billion

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The Ministry of Finance reports on real credit agreements that were reached during the visit of the President of China Xí Jìnpíng to Belarus.

The aggregate volume of long-term agreements in the credit and investment sphere is about $3.5 billion, which can be exploited within 15 years, AFN reports.

In particular, the Ministry of Finance of the Republic of Belarus and the Exim Bank of China have signed two credit agreements for soft loans of about $330 million for a period of 12-15 years to implement the investment projects "Construction of the engineering and transport infrastructure of the starting zone of the northern ground of the China-Belarus industrial park on a turnkey basis and "Production of assembly of cars in 2012-2030". (SZAO BELGEE).

Besides, SZAO BELGEE and the Exim Bank of China signed an agreement on the granting of SZAO BELGEE a 10-year credit of about $88 million under the guarantee of the Chinese Corporation Geely for construction of a plant for car assembly.

China Development Bank and OAO Belarusbank and OAO Bank of Development of the Republic of Belarus signed under the guarantees of the Government of the Republic of Belarus two 15-years credit lines for projects in transport, energy, industry and infrastructure, as well as in the sector of small and medium business of the Republic of Belarus totaled $1 billion.

Belarusian Railway and Exim Bank of China have signed three 12-15 years credit agreements for he integrated development of the Belarusian railway totaled $175 million to finance projects: "Modernization of the rolling stock of the Belarusian railway; acquisition of 10 electric locomotives"; acquisition of 8 electric locomotives; "Electrification of Maladzechna-Hudahai-state border direction".

The Exim Bank of China and GO Belarusian Railway have signed a framework agreement on comprehensive and long-term cooperation in promoting infrastructure development of the Belarusian railway involving credits of Chinese banks of up to $ 500 million under the guarantees of the Government of the Republic of Belarus in order to strengthen cooperation between two countries in the implementation of the economic zone on the "Silk Way".

Ministry of Finance of the Republic of Belarus, the State Development Bank of China, OAO АСБ Belarusbank and ИООО Slavkalij have signed a memorandum of understanding to attract credit by OAO АСБ Belarusbank and guaranteed by the Government of the Republic of Belarus of $1.4 billion for construction of the new mining and processing complex on the raw material base of Nezhynsky area of the Starobin potassium salt deposit.