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Sunday, July 23, 2017

Belarusbank, China Development Bank sign loan agreement

Belarusbank said Monday that it has reached an agreement with China Development Bank on a  $300 million loan to fund joint projects between Belarus and China.
   
Projects in the transportation, energy and other sectors along with small and medium-size business enterprises will benefit from the agreement. Belarusbank said the loan has favorable terms for the bank and for the Republic of Belarus.

Chinese President Xi Jinping arrived in Minsk on Sunday.
"It is extremely important that the general loan agreement was signed during the visit of President Xi Jinping," Belarusbank Board Chairman Sergei Pisarik said, referring to the trip by the Chinese president who arrived in Minsk on Sunday. "It was a testament to a new level of bilateral relations with the Development Bank of China, and in addition will further the achievement of mutual interests," Pisarik said. 

Belarus is also in consideration to be a major partner with the city of Xuzhou, China, as the development of the Economic Belt of the Silk Road continues.