BELARUS NEWS AND ANALYSIS

DATE:

29/12/2009

BeLTA: China is ready to grant a $5.7 billion loan to Belarus

Deputy Prime Minister of Belarus Andrei Kobyakov told a governmental session on Dec. 28 that China is offering Belarus a big loan.

"Chinese partners offer Belarus a $5.7 billion loan. This loan is a potential investment in the fixed capital. The relative agreement was signed in China last week," the Vice Premier said. Preliminarily, the Chinese side has accepted 14 projects including 3 projects in the transport industry, 8 projects in the energy, 2 projects in the telecommunications and a project to construct various facilities ahead of the IIHF World Championship in 2014.

"How fast we attract these funds depends on the efficiency of the borrowers and readiness of projects. It is not sufficient to secure foreign investments. What needs to be done is to come up with options of how to show them on a company's balance sheet. Only then, we may consider them as capital investments," Andrei Kobyakov said.

Source:

http://www.kyivpost.com/news/russia/detail/56139/

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