Credit to serve common business
Belarus’ Prime Minister, Mikhail Myasnikovich, has met China Eximbank’s Chairman, Li Ruogu, and the Vice President of the Industrial and Commercial Bank of China, Zhang Hongli, noting, “We are fully committed to realising a major project dealing with the establishment of a Belarusian-Chinese Industrial Park.” He added that Belarus aims to create all necessary conditions for Chinese companies working jointly with Belarus. “On providing us with credit support, you should be confident that Belarus is a country which strictly fulfils its obligations,” the Belarusian PM said, addressing the China Eximbank’s Chairman.
According to Mr. Myasnikovich, joint projects implemented in the fields of material production and infrastructure are true landmarks for both sides. “I believe your current visit will further strengthen trust between businessmen of our two countries, while promoting successful financing of projects now in the pipeline,” he explained, expressing satisfaction that Belarusian-Chinese relations are shifting from trade collaboration to investment and sci-tech liaisons.
Recently, Belarus and China Eximbank signed credit agreements to finance joint projects worth over $1bn. In particular, a consumer credit agreement has been signed to build a sulphate bleached pulp production facility, worth $654m. Corporation Camce will act as the Chinese partner. Additionally, a loan agreement to finance the modernisation of Minsk-Gomel motorway M-5/E271 (connecting Gomel and Zhlobin) has been signed, worth $340m.
Co-operation with the Industrial and Commercial Bank of China is developing. According to Mr. Myasnikovich, this opens new possibilities for joint work. The Industrial and Commercial Bank of China and Eximbank are both showing interest in the Belarusian-Chinese Industrial Park.
Li Ruogu notes that Belarus and China are long term partners and their trade-economic relations are developing rapidly, on a mutually beneficial basis. China Eximbank’s Chairman also hopes that our joint projects will be successfully realised and that Belarus will worthily overcome its economic difficulties. China is ready to render support to the Belarusian economy.