Active Development AidData Chinese Aid

China CITIC Bank provides $9.1 million loan for Fandok Particle Board Production Line Project

$9.1M USD

Funder	China CITIC Bank Corporation Limited
Recipient Organization	JSC JSSB Belarusbank
Country	Belarus
Start Date	Jan 01, 2009
End Date	Oct 24, 2029
Duration	7,601 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`43266`

Grant Description

China CITIC Bank provides $9.1 million loan for Fandok Particle Board Production Line Project In 2009, China CITIC Bank signed a $9.1 million loan agreement with Belarusbank — a state-owned bank in Belarus — for the Fandok Particle Board Production Line Project.

Belarusbank then on-lent the proceeds to OJSC Fankok (ОАО «ФанДОК») — a state-owned company — for the creation of a particle board production line at its factory in the town of Bobruisk.

Upon completion, it was envisaged that the production line would have the capacity to manufacture 30,000 cubic meters of thin particleboard slabs (2-6 mm thick) per year.

OJSC Fankok used the loan proceeds to finance a commercial contract that it signed with XY International Investment (北京轩辕国际投资有限公司) in 2009. On August 17, 2010, OJSC Fankok received its first shipment of Chinese equipment from XY International Investment. The plant was schedule to open in early 2013.

📋 Staff Comments

The Russian project title is завод по производству тонких плит ДСП. The Chinese project title is 博布鲁伊斯克市凡岛克厂刨花板生产线项目 or 白俄罗斯“凡岛克”木材加工厂刨花板生产线项目 or “凡岛克”木材加工厂. OJSC FanDOK is one of the largest woodworking enterprises in Belarus. It was founded in 1929 and its factory is located in Bobruisk.

📚 Sources & References

Belarusian FanDOK Will Launch EUR 35.3 mn Chipboard Facility in 2013, ОАО «ФанДОК» получило первую партию оборудования из Китая для завода ДСП
OAO FanDOK receives first consignment of Chinese equipment for particleboard plant
Belarus-China trade may exceed pre-crisis level in 2010 – V.Semashko
宫大使应邀视察中白务实合作项目, ОАО 'ФАНДОК' ПОЛУЧИЛО ПЕРВУЮ ПАРТИЮ ОБОРУДОВАНИЯ ИЗ КИТАЯ ДЛЯ ЗАВОДА ДСП, Инвестиционная деятельность в Республике Беларусь, ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 10 февраля 2010 г. № 169, Белорусское ОАО 'ФанДОК' в 2011 г введет в действие завод по производству тонких плит ДСП стоимостью более 10 млн долл., Иностранные ресурсы для кредитования, Экономическая газета, О внесении дополнений и изменений в постановление Совета Министров Республики Беларусь от 10 февраля 2010 г. N, Беларусбанк в 2009 году заключил 53 новых соглашения с иностранными банками на 275 млн долларов, Деревообработка/ требуются новые технологии
宫建伟大使会见白俄罗斯第一副总理谢马什科
Belarus-China trade may exceed pre-crisis level in 2010 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.