China Eximbank pledges $1.5 billion loan for Great Stone Industrial Park (Linked to Record ID#73246, ID#66959, ID#66961)

📋 Staff Comments

CJSC “Industrial Park Development Company” was founded on August 27, 2012 and it is jointly owned by Sinomach (32%), CAMCE (13.71%), China Merchants Group (20%), Harbin Investment Group (2.29%), and the Government of Belarus (32%). Its creation followed the signing of an intergovernmental agreement on the China-Belarus Industrial Park on September 18, 2011 and the subsequent ratification of the agreement by both countries on January 30, 2012. The Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020 identifies a $3 billion “loan” in 2012 from CDB and China Eximbank for this project. However, this appears to be a reference to the two separate $1.5 billion pledges that were made by China Eximbank in 2012 and China Development Bank in 2013 (see Project ID#42313 and Project ID#73246). According to multiple official sources, the Great Stone Industrial Park Construction Project was ultimately supported by a $170 million loan from China Eximbank (captured in Project ID#66961) that was finalized on May 10, 2015 and a $110 million loan from China Development Bank (captured in Project ID#66959) that was finalized in 2013.

📚 Sources & References

• 白俄罗斯与中国签署中白工业园第一期融资框架协议
• 白俄罗斯称有望获得中国逾一百亿美元投资
• 中国与白俄罗斯签订大单：近20项协议 价值157亿美元
• Belarusian-Chinese economic alliance: what's the benefit for Minsk
• China-Belarus Industrial Park
• 中工国际工程股份有限公司 关于投资中国——白俄罗斯工业园区项目的进展公告
• Sinomach
• China Merchants build 'a pearl on Silk Road' in Belarus
• 对外投资指南白俄罗斯2019
• 中国国家开发银行将贷款15亿美元建设中白工业园区, Великий Камень — Википедия
• Agreement on Belarus-China industrial park signed
• Belarusian Parliament Ratifies Joint Investment and Infrastructure Plans with China
• Belarus
• China to implement huge investment project: Lukashenko
• China : $3BILLION will be granted by China Eximbank and Development Bank
• China to Finance New Belarusian City Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.