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11 June 2018, 12:14

China to grant Belarus 800m yuan in technical aid in 2018

MINSK, 11 June (BelTA) – China will provide 800 million yuan in technical and economic aid to Belarus in 2018. Such an arrangement is envisaged in the intergovernmental agreement on technical and economic aid signed by Belarus' Economy Minister Vladimir Zinovsky during his working visit to China, BelTA learnt from the press service of the Economy Ministry.

On behalf of the Chinese government the agreement was signed by Chairman of the China International Development Cooperation Agency Wang Xiaotao. The agreement provides for granting gratuitous aid to the amount of 800 million yuan to implement a series of investment projects in Belarus, including construction of the National Football Stadium, a world-class swimming pool, a residential house for rent on the territory of the China-Belarus Industrial Park Great Stone and construction of the China-Belarus Center for Cooperation in Transforming Technology Solutions on the territory of the China-Belarus Industrial Park Great Stone.

Photo courtesy of Belarus' Economy Ministry

A number of other documents were signed in Qingdao, in particular an intergovernmental framework agreement that commits China to grant Belarus a concessional loan to implement the investment project to build a high-tech full-cycle agricultural enterprise (second stage). On behalf of the Chinese government the agreement was signed by Chairman of the China International Development Cooperation Agency Wang Xiaotao. An intergovernmental framework agreement on providing a concessional loan to implement the first stage of the project and a corresponding loan agreement with the Export-Import Bank of China had been signed during the visit of Belarus' Economy Minister Vladimir Zinovsky to China in February 2018. The total amount of lending for the two stages of the project is estimated at about 4.3 billion yuan.

Belarus' Economy Ministry and China's Ministry of Commerce signed a memorandum on the plan of cooperative development based on synchronized strategic programs for medium and long-term perspectives. The document was inked by China's Minister of Commerce Zhong Shan. In order to materialize business ideas and investment proposals, the two countries will hold business forums, roundtable sessions and business meetings of company representatives.

The plan is designed to scale up cooperation in the manufacturing industry, encourage Chinese business to purchase shares of Belarusian companies, set up joint ventures, expand cooperation in information technology, explore new areas of cooperation in finance; improve access terms and increase mutual supplies of goods and services, tap into new market niches of third countries, boost cooperation in transport and logistics, promote sectoral research, and forge new interregional contacts. The plan provides for implementation of joint projects in a series of industries, including mechanical engineering, electronics and electrical engineering, optics and photonics, new building materials and technologies, microbiological and pharmaceutical industry, production of medical equipment and materials.

A memorandum of cooperation in developing human potential was signed between Belarus' Economy Ministry and the China International Development Cooperation Agency. On behalf of the Chinese government the agreement was signed by Wang Xiaotao. The memorandum has formalized the two countries' intentions to share expertise and knowledge in promoting human potential in areas, like education, healthcare, trade and economy, housing and utilities, environmental protection, agriculture, power engineering, mechanical engineering, tourism. The document also envisages support for small and medium-size business and research across important areas of bilateral cooperation. In line with the memorandum, China is set to arrange seminars for Belarusian specialists both in China and in Belarus. The bulk of the expenses for that will be assumed by the government of China.

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