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Additional agreement with China's Exim Bank on Great Stone infrastructure loan approved

11 May 2019

MINSK – The Council of Ministers approved the draft additional agreement to the concessional loan agreement on the investment project “Turnkey Construction of Engineering and Transport Infrastructure of the Starting Northern Zone of the China-Belarus Industrial Park” between the Belarusian government (Finance Ministry) and the Export and Import Bank of China of 10 May 2015. The corresponding Council of Ministers' Resolution No.284 of 4 May 2019 was officially published on the national legal internet portal on 11 May, BelTA has learned.

The resolution approved the draft additional agreement between the Belarusian government and the Exim Bank of China as a basis to hold talks.

The Finance Ministry has been authorized to hold talks on the draft additional agreement. If necessary, the ministry has the right to introduce amendments and (or) additions of no fundamental nature. The ministry has also been authorized the sign the document if the parties reach the agreement.

The resolution was adopted in line with Decree No.252 of 18 April 2006 “Concerning the approval of the provision on foreign government loans and external borrowings attracted under the guarantees of the Belarusian government”. The document came into force on the day of its adoption.

The China-Belarus industrial park Great Stone is a territorial unit as large as 112.5km2 providing favorable doing business conditions. The park is located 25km away from Minsk in the immediate proximity to an international airport and the railway network. Plans are in place to build production and residential zones, offices and shopping malls, financial and R&D centers there. It will be a modern international eco-city with a focus on high-technology and competitive innovative production with a high export potential. Any company can become a resident of the industrial park.

BelTA

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