China has issued loans of $ 16 billion to Belarus

China to implement a total amount of 16 billion dollars to the joint projects in Belarus, stated by Chairman of the Council of the Republic Belarus Anatoly Rubinov. He also clarified that the funds go to projects in energy, housing and other areas.

Rubinoff has announced that both parties are close to establishing a joint industrial park. Negotiations for this project are in the final stages of preparation of documents.

On April 4, the Export-Import Bank of China and Belarus signed the agreement to build a plant for soda ash, with the production capacity of 300,000 tons per year. In this project the bank will allocate 186.5 million dollars. The plant will be built in Gomel region.

China has repeatedly granted Belarus credits, including on concessional terms. In September 2011 Minsk was allocated one billion dollars, which is supposed to be spent on the distribution of satellite communications.

In addition, the budget deficit in 2011 in Belarus was also funded in large part by funds provided by the PRC. Chinese state-owned banks are active in the former Soviet Union. Large loans were given not only to Belarus, but also to Moldova and the Russian oil company “Rosneft” and “Transneft”.

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