FinMin confirms plans to draw credit from China Development Bank in 2019
03 June 2019
MINSK - Vice Minister of Finance Andrei Belkovets has conformed Belarus’ plans to take out a loan in the amount of $500-600 million from the China Development Bank in 2019.
Belkovets was reported to have meetings at the China Development Bank and the Export-Import Bank of China in May. In his words, during those meetings Belarus and China discussed the terms of borrowing and other relevant arrangements.
Belarus earlier signed a memorandum with the China Development Bank and counted on credit cooperation. In the parties come to terms, Belarus may use the Chinese credit money to refinance its external debt.