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Foreign credit lines in the amount exceeding $1.8 bn. will be attracted in 2006 for financing 105 investment projects.

03.05.2006

Belarus will attract foreign credit lines in the amount exceeding $1.8 bn. in 2006 in order to finance 105 investment projects. Work is currently underway to fill the foreign credit lines. Deputy Prime Minister Vladimir Semashko spoke about this during a session of the Council of Ministers on the 25th of April.

 He also noted that in the framework of utilization of the credit line granted by China, a portfolio of investment proposals was formed that includes 43 projects totaling $1.6 bn. The largest and most important proposals were directed to the Head of the State Council of China.

Vladimir Semashko reported that in order to grant state support to the investment process a draft of a government decree was prepared that allows for compensation of the interest payments of Belarusian enterprises for use of the credit lines. The document provides state support for 19 projects, which are to be implemented by attracting credit lines of banks.

During the first three months of 2006, investments into the fixed capital of the Republic of Belarus have increased by 36.2% when compared to the corresponding period in 2005. High investment growth dynamics are connected with the increase in equipment deliveries in the frame of the most important investment projects. Br. 1.9 trl. was utilized for the needs of industrial enterprises, which constitutes 63.6% of the total amount of investments into the fixed capital. 62.5% of foreign investments were utilized During the first three months of 2005.

The investment plan was fulfilled by most Ministries and concerns. Such high results were achieved due to the investment activities of enterprises in the field of machinery production despite the fact that some departments did not fulfill the plan on increase of investments.

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