Regardless of the type of ownership
Belarusbank to offer credit support to efficient Belarusian-Chinese investment projects
Belarusbank JSC is ready to provide lending support to Belarusian-Chinese investment projects using resources available via a credit line of the China Development Bank. It primarily refers to joint projects implemented in spheres of industry, power engineering, transport, small and medium-sized business, alongside modernisation and expansion of manufacture, plans for new construction, and acquisition of equipment and technologies from the People’s Republic of China.
In order to get loans, investment projects have to be effective. These projects have to be implemented outside the framework of government programmes and measures. The loans will be granted only if there is a contract signed with a China resident company for the delivery of equipment, execution of work or provision of services, with the Chinese share at least as large as 50 percent of the contract’s value. Belarusbank will finance at most 85 percent of the contract’s value. The money will be available for up to 15 years, with ten years to pay back the loan. The interest rate will be six-month LIBOR (the weighted average interest rate on interbank loans) plus six percentage points. The press service pointed out that loans will be available to Belarusian enterprises regardless of the economy branch, the scale of operation, and the type of ownership.
By Yevgeny Bystrov