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Belarus gets Chinese loan

Christian Fernsby ▼ | December 19, 2019
Belarus has signed an agreement to borrow 3.5 billion yuan (around $500 million) from China, announced the Belarusian Finance Ministry.
Belarusian government
Belarus economy   Belarusian government
The 5-year loan will be provided by the Shanghai branch of the China Development Bank.

Topics: Belarus Chinese loan

The loan is not tied to any particular project, and can be used for general purposes, including the servicing of government debt, supporting Belarus’s foreign currency reserves, and facilitating the development of bilateral trade.

This is an “unprecedented” deal for Belarus, which shows that relations between Minsk and Beijing have reached a “new level”, said the ministry, as cited by RIA Novosti.