Belarus to attract Chinese loan up to $1.4 billion for construction of mining and processing complex

Belarus will attract a Chinese loan of up to $1.4 billion for the construction of a mining and processing plant. BELTA was informed about this by the Ministry of Finance.

Belarus will attract a Chinese loan of up to $1.4 billion for the construction of a mining and processing plant. BELTA was informed about this by the Ministry of Finance.

The Ministry of Finance, the China Development Bank, Belarussbank, and IOOO "Slavkaliy" signed a Memorandum of Understanding. The document provides for Belarussbank to attract a loan of up to $1.4 billion. The funds will be used for the construction of a new mining and processing plant in Belarus based on the raw materials of the Nezhinsky section of the Starobinsky potash salt deposit. The loan is guaranteed by the Belarusian government.

The ministry spoke about other agreements concluded during the visit of PRC Chairman Xi Jinping to Belarus. Thus, the Ministry of Finance and the Export-Import Bank of China signed two loan agreements on the provision of preferential loans by the Chinese bank for a term of 12-15 years in the amount of about $330 million. This will finance the implementation of two significant investment projects. The first is the "turnkey" construction of engineering and transport infrastructure for the starting zone of the northern site of the priority development area of the China-Belarus Industrial Park. The second is the organization of a passenger car assembly production for 2012-2030 (ZAO "BelGee").

In addition, BelGee and the Export-Import Bank of China concluded a loan agreement, under which the enterprise receives a loan for 10 years in the amount of about $88 million for the construction of a passenger car assembly plant. The loan is provided under the guarantee of the Chinese corporation Geely.

The Belarusian government acted as a guarantor for the allocation of two 15-year credit lines for the implementation of projects in the transport sector, energy, industry, infrastructure, as well as the small and medium-sized business sector of Belarus for a total amount of $1 billion. Relevant agreements were reached between the China Development Bank with Belarussbank and the Development Bank of Belarus.

In total, during the visit of PRC Chairman Xi Jinping to Belarus, long-term agreements were reached in the credit and investment sphere for a total amount of about $3.5 billion.

News of Belarus (BELTA)