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Economy
08 February 2018, 14:28

Belarus to raise soft loan from China for investment project in agriculture

MINSK, 8 February (BelTA) – Belarus will get a subsidized loan from China in 2018-2023 to implement an investment project worth 1.75 billion yuan. The decision is stipulated in the Council of Ministers' Resolution No.105 dated 7 February 2018, BelTA learned from the press service of the government.

“The Council of Ministers gave an instruction to arrange China's subsidized loan in 2018-2023 for up to 15 years to set up a high-technology full-cycle agricultural manufacturing facility in 2016-2032 (first stage). The investment project is estimated at 1.75 billion yuan,” the press service noted.

The resolution approved a draft agreement to take out a soft loan to set in motion the investment project between the Belarusian government (represented by the Finance Ministry) and the Export-Import Bank of China as a basis for holding talks.

The Council of Ministers authorized Economy Minister Vladimir Zinovsky to conduct negotiations on the project, sign a loan agreement when the approved project is agreed upon, and seal the documents required to implement the agreement.

The resolution was adopted in accordance with decree No.252 of 18 April 2006, which regulates external government loans and external loans taken out against Belarus government guarantee. The resolution comes into force after its official publication.

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