Belarusbank hosts Belarus-China seminar

A seminar on funding investment projects with the assistance of China Development Bank Corporation took place on the premises of Belarusbank headquarters on May 17, 2016. The seminar focused on standards and practice of investment loans, cooperation with Chinese financial institutions and successful projects.

Opening the seminar, Deputy Chairman of the Board of Belarusbank Aliaksandr Paliuka spoke about the importance and and good prospects of cooperation between the bank and Chinese financial institutions. One of the most promising projects mentioned in this connection was the Silk Road Economic Belt. “We view the Silk Road as a chance to integrate in large-scale international business. That will serve as a serious development impetus for our economy, with a large inflow of resources, the development of infrastructure, roads, electrification, new jobs”, Aliaksandr Paliuka said.

In turn, Director of the Education and Training Department of China Development Bank Corporation Tian Weijun stressed that partnership with Belarusbank which is currently gaining momentum stands high on the list of priorities of the Chinese bank.

A landmark event was in Belarus-China economic and investment relations was a General Facility Agreement between Belarusbank and China Development Bank Corporation to the tune of $300 million, which was signed during the visit of President of the People’s Republic of China Xi Jingping to Belarus in May 2015. 

“We have determined a number of spheres where our cooperation can be most efficient and fruitful. These include transport, communications, power engineering, machine-building”, Aliaksandr Paliuka said.

In his words, $50 million was channeled to small business projects. Among projects implemented by large industrial enterprises Belarusbank Deputy Chairman of the Board mentioned Grodnoenergo with the country’s most powerful wind energy park, as well as tyre-making company Belshina. The latter managed to expand its product range of supersize tyres (including tyres for 450-tonne BelAZ dump trucks) and improve the quality of products due to the recently imported Chinese equipment within the framework of the relevant investment project.

Representatives of business circles who visited the seminar studies the mechanisms, possibilities and advantages of participation in investment projects funded by China Development Bank Corporation. The seminar focused on the expansion of bilateral cooperation regardless of the scale of business and the type of ownership. Particular emphasis was placed on small and medium business.

“At the moment Belarusbank’s clients and partners lack information about the opportunities opend by China Development Bank Corporation. We are trying to reduce the distance between the source of funding and those who need that funding”, said Aliaksandr Paliuka to summarize the results of the seminar.

In general the seminar proved to be a perfect platform for communication, exchange in experience and networking.

Belarusbank press service

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