Chinese loans to make pasteboard in Belarusian Dobrush

21 February 2012

MINSK (BelTA) – In 2012-2014 Belarus will take out loans of the China State Development Bank for retooling the Dobrush paper mill, a branch of OAO Management Company of the Holding Belorusskie Oboi, for the sake of starting the production of coated and uncoated kinds of pasteboard. The decision is laid down by Council of Ministers resolution No. 163 of 20 February 2012, the press service of the Belarusian government told BelTA.

The loans will be granted in US dollars to the tune of $296.4 million and $52.3 million in Chinese yuan for 13 years.

Ambassador Extraordinary and Plenipotentiary of Belarus to China with concurrent accreditation in Mongolia Viktor Burya has been authorized to hold the negotiations and sign the credit agreements.

The resolution has been passed to implement the framework agreement of intent between the China State Development Bank and the Belarusian government to finance the said investment project. The agreement was signed on 18 September 2011.

Ministry of Foreign Affairs of the Republic of Belarus