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China‘s $280m loan for Belarus satellite communication

20 December 2012

MINSK (BelTA) – The Export-Import Bank of China will provide Belarus with a $280.8 million loan for the development of the national communication and broadcasting satellite service. The bank will allocate $322 million more for the reconstruction of M5/E271 Minsk-Gomel highway. The decisions are contained in Council of Ministers’ Resolution No.1161 of 17 December 2012, BelTA learnt from the press service of the Belarusian government.

Belarus will receive the abovementioned loans in 2012-2017 for a period of 15 years.

Resolution No 1161 was approved to implement the general credit agreement between the Government of Belarus as a borrower and the Export-Import Bank of China as a lender on the provision of a soft buyer loan of 7 November 2011.

As BelTA has earlier reported, the loan agreements with the Export-Import Bank of China were signed in Beijing on 19 December to provide preferential loans for the implementation of two investment projects in Belarus. On Belarus’ behalf the documents were signed by Ambassador Extraordinary and Plenipotentiary of Belarus to China Viktor Burya.

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