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Broader access to Chinese loans for Belarusian private companies

08 September 2015

MINSK (BelTA) – Private business should take a more active part in the utilization of Chinese loans in Belarus. Belarus President Alexander Lukashenko made the statement as he heard out a report from Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur on 8 September, BelTA has learned.

The President reminded that China intends to lend $7 billion to Belarus on profitable terms. The money should be used to implement important projects that will contribute to the creation of new jobs among other things, said Alexander Lukashenko. He once again said he was dissatisfied with the low number of suggested relevant projects.

“It is necessary to give an opportunity to the private sector, particularly small and medium enterprises. They always return money. We have never had any problems with them,” said the head of state. He added that projects had to be safe and profitable for the country.

Alexander Lukashenko stressed that $7 billion is a good piece of work and Chinese partners are ready to relax restrictions regarding how the money can be used. The President remarked that this way Belarus has good resources to rely on in order to survive the peak of the global crisis.

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Ministry of Foreign Affairs of the Republic of Belarus