Russia will provide Belarus with a loan of 105 billion rubles for import-substituting projects
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Russia and Belarus signed an agreement on the allocation of a loan to the Belarusian side for 105 billion rubles. for the implementation of import substitution projects, informs press service of the government of Belarus in the Telegram channel.
“An intergovernmental agreement was signed on the allocation of a loan to Belarus in the amount of 105 billion Russian rubles for import-substituting projects,” the report says. The document was signed today, November 16, by the heads of the finance ministries of both countries. It is specified that the projects will be implemented on the territory of Belarus. The press service reported that both sides have already confirmed their readiness to start financing 12 projects.
At the end of July, First Deputy Minister of Economy of Belarus Yury Chebotar said that both countries had identified a list of joint import substitution projects with a funding volume of $1.3 billion.
Earlier, Belarus offered Russia joint investment projects to replace imports under Western sanctions. As part of the agreements with the Russian President, Moscow will allocate $1.5 billion for Minsk’s participation in import substitution programs, President of Belarus Alexander Lukashenko said. In particular, the funds will be used to implement projects in the field of mechanical engineering, said Belarusian Industry Minister Petr Parkhomchik.
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