China Promise

China Promise
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China is ready to open credit lines of up to $7 billion for Belarus. Minsk. Our special correspondent in Belarus, Pavel Chernenko, reports.

The Minister of Economics of Belarus, Vladimir Zinovsky, discussed this on May 11th at the Belarussian / Chinese interregional business forum which took place in Minsk. According to him, China will provide a grant for 800 million yuan (about $128 million) for technical help on social projects and construction of the Chinese dorm, and two very significant credits. "$3 billion is preferential credit, and $4 billion is commercial credit to us for financing business projects. The main orientation is infrastructure, social housing, and small and medium business", the minister declared. The head of the Ministry of Economics noted that during the visit of the Chinese President Xi Jinping to Belarus, about 50 agreements will be signed and that in the republic, 164 Chinese companies are already working. "For us it is especially important to finish the Belarusian-Chinese industrial park where the best Chinese companies will come to work, which will be built by about 800 workers”, Vladimir Zinovsky told us. We note that in the "Great Stone Park" the resident companies are already registered. He also noted the importance of the second Belarusian-Chinese project with direct investments, the Geely plant in Borisov.