Chairman of the Board of Belarusbank signed a number of important documents with Chinese partners in Beijing
OREANDA-NEWS. Chairman of the Board of Belarusbank Siarhei Pisaryk signed a number of important documents with Chinese partners in Beijing, as he visited the People’s Republic of China within an official delegation headed by President Alexander Lukashenko.
In particular, Belarusbank and the Belarusian Ministry of Finance signed a cooperation agreement with China’s CITIC CONSTRUCTION Co., Ltd. that stipulates the formation of Belarus-China investment fund. The mobile universal investment fund is expected to become the first institution of its kind that will be able to raise capital in China and Belarus, as well as other countries. The fund will be able to independently select projects to be financed, which will not be limited by projects implemented by China in Belarus. Belarusbank’s share in the fund is 40%.
China Development Bank Corporation and Belarusbank signed a Memorandum of Understanding to reaffirm their high level of cooperation. According to the document, the Chinese bank will allot $100 million to Belarusbank within the framework of the $300-million Facility Agreement as of 2015. One of the signatories of the Memorandum is the Belarusian Ministry of Finance. The 3-year loan will be used to finance the current operations of Belarusbank.