China’s loan terms seen as favorable for Belarus

        The terms of the Chinese loans are very comfortable for Belarus with regard to the interest and payback period, Belarus’ Premier Andrei Kobyakov said as he met with Chairman of the Board of the China Development Bank Hu Huaibang. According to Andrei Kobyakov, four loan agreements to the total tune of over $800 million are currently under implementation.
        The Development Bank of Belarus, Belarusbank and the China Development Bank signed a new loan agreement during China President Xi Jinping’s visit to Belarus. “The goal of the new mechanism is to provide Belarusian organizations with long-term resources under a comfortable interest rate for lucrative investment projects,” the Belarusian head of government said. According to Andrei Kobyakov, Belarus believes that the new level of cooperation with the China Development Bank will benefit the two countries. Besides, Belarus is ready to discuss further cooperation in the area.