Completed Mixed AidData Chinese Aid

China Eximbank provides $174.25 million buyer's credit loan for Belarusian Cement Plant Construction Project (Linked to Record ID#66650, ID#43265, ID#42171, and ID#42179)

$174.25M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Belarus
Country	Belarus
Start Date	Oct 29, 2008
End Date	May 11, 2029
Duration	7,499 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66652`

Grant Description

China Eximbank provides $174.25 million buyer's credit loan for Belarusian Cement Plant Construction Project On November 5, 2007, China Eximbank created a $500 million line of credit for the Government of Belarus to fund the construction of three all-dry cement plants (captured in Umbrella Record ID#42171).

Then, on October 29, 2008, China Eximbank and the Government Belarus signed a $174.25 million buyer’s credit loan agreement (China Eximbank loan ID# BLA0806 and Government of Belarus loan ID# 12-2-15/10П) for the Belarusian Cement Plant Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: a 10 year maturity

📅 Maturity10 years

⏳ Grace Period3 years

The Government of Belarus issued a sovereign guarantee in support of the loan.

The proceeds of the loan were on-lent from the Government of Belarus to a state-owned company called Belarusian Cement JSC (ОАО «Белорусский цементный завод»), which in turn used the loan proceeds to finance a commercial contract [№ CITICICC-1202А-BL] that it signed with CITIC Construction on December 31, 2007.

The purpose of this project was to help Belarusian Cement JSC establish a second (all-dry) production line with a daily production capacity of 5,000 tons of cement. CITIC Construction was the EPC contractor responsible for implementation.

On 11 September 2009, according to the Belarusian News Agency, the Belarusian State Supervisory Committee announced that China CITIC Group had begun construction of the cement plant. The second production line was officially completed and put into production on August 10, 2012.

This project passed a performance audit and it was officially handed over to the owner of the cement plant on November 30, 2012.

📋 Staff Comments

The Chinese project title is 位于科斯久科维奇市的白俄罗斯水泥厂. The Russian project title is “Строительство второй линии по производству цемента сухим способом на ПРУП 'Белорусский цементный завод”.
This loan is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.
The two additional cement plant construction projects (the Krichevtsementnoshifer Cement Plant Construction Project and the Krasnoselskstroymaterialy Cement Plant Construction Project) that were financed through the $500 million line of credit (issued on November 5, 2007) from China Eximbank are captured in Project ID#66650 and Project ID#42179. Note that the aggregate value of the three buyer’s credit loans that supported these three projects is equal to $500 million.

📚 Sources & References

宫建伟大使应邀与白副总理参加中方承建项目现场会
China investors help maintain high production level in Belarus
Belarus
China sign loan agreement
Economic cooperation between Republic of China and Republic of Belarus in the context of implementing the One Belt
One Road Foreign Economic Strategy, Об организациях цементной отрасли, ПЕРЕЧЕНЬвнешних государственных займов, обслуживание и погашение которых осуществляются с привлечением средств республиканского бюджета ( LIST of external government loans, servicing and repayment of which are carried out with the involvement of funds from the republican budget), Инвестиционная деятельность в Республике Беларусь, УКАЗ ПРЕЗИДЕНТА РЕСПУБЛИКИ БЕЛАРУСЬ
白俄罗斯三条水泥生产线项目
Lukashenko invites China to start joint manufacture of steel concrete
中信建设承建的白俄罗斯第二条水泥线投产, ЗАКЛЮЧЕНИЕ НЕЗАВИСИМОГО АУДИТОРА
Oao Krasnosel'skstroymaterialy, ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 4 мая 2009 г. No 572
Belarusian Three Cement Production Lines Project
Cement Industry of the Republic of Belarus, Беларусь подписала с Эксимбанком Китая кредитные соглашения на $390 млн, Качественная продукция, Соглашение о предоставлении Беларуси льготного правительственного кредита подписано с Эксимбанком Китая
白俄罗斯总统出席中国承建水泥厂投产仪式
China's Overseas Development Finance 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.