Belarusbank to offer loans for effective Belarusian-Chinese investment projects
Belarusbank is ready to provide lending support to Belarusian-Chinese investment projects using resources available via a credit line of the China Development Bank, Belarusbank's press service told BelTA.
In particular, lending support will be available to projects in spheres of the production sector, power engineering, transport, small and medium business, modernization and expansion of manufacturing operations, plans for new construction, acquisition of equipment and technologies from the People's Republic of China.
Belarusbank's representatives specified that in order to get the loans, the investment projects have to be effective. These projects have to be implemented outside the framework of government programs and measures. The loans will be granted only if there is a contract signed with a China resident company for the delivery of equipment, execution of work or provision of services, with the Chinese share at least as large as 50% of the contract's value.
Belarusbank will finance at most 85% of the contract's value. The money will be available for up to 15 years, with ten years to pay back the loan. The interest rate will be six-month LIBOR (the weighted average interest rate on interbank loans) plus six percentage points.
The press service pointed out that loans will be available to Belarusian enterprises regardless of the economy branch, the scale of operation, and the type of ownership.
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