Completed Development AidData Chinese Aid

China Eximbank provides loan for Vitebsk Fur Factory Modernization Project

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Belarus
Country	Belarus
Start Date	Jan 01, 2011
End Date	Apr 24, 2031
Duration	7,418 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66741`

Grant Description

China Eximbank provides loan for Vitebsk Fur Factory Modernization Project In 2011, China Eximbank agreed to provide a loan to the Government of Belarus for the Vitebsk Fur Factory Modernization Project. The face value of the loan is unknown.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 20 year maturity and a 3% interest rate

📅 Maturity20 years

💹 Interest Rate3%

The Government of Belarus then on-lent the proceeds of the loan to a private company called RUE Vitebsk Fur Factory (РПУП «Витебский меховой комбинат»).

RUE Vitebsk Fur Factory then used the loan proceeds to finance a commercial contract with China Zhongyuan Engineering Corporation.

The purpose of this project was to modernize and relocate the manufacturing facilities of RUE Vitebsk Fur Factory in the city of Vitebsk. China Zhongyuan Engineering Corporation was the contractor responsible for implementation.

It signed an implementation agreement on January 12, 2011 and it ultimately completed the project, but its precise implementation start and end dates are unknown.

📋 Staff Comments

The Russian project title is «Витебский меховой комбинат». The Chinese project title is 维捷布斯克皮草厂. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.

📚 Sources & References

Витебский меховой комбинат планирует с помощью китайских кредитов вынести предприятие из центра города, В Витебске, в рамках китайского инвестиционного проекта, на базе РПУП «Витебский меховой комбинат» собираются создать современный меховой комплекс со звероводческим хозяйством.
Chinese interest in Vitebsk Fur Factory, Китайское экономическое присутствие заметно во всех белорусских регионах, 'Витебский меховой комбинат'
Relation/ ‪Меховой комбинат‬ (‪9394161‬)
OpenStreetMap
卢卡申科：中国贷款应用于支持智能私人交易者
白罗斯新闻
白罗斯事件
白罗斯新闻
Belarus.by
Belarus president pleased with Vitebsk fur factory modernization
Belarus president in favor of spending Chinese loans to support smart business owners, 'Марко' дадут заем на модернизацию мощностей и мехового комбината
BelarusChina - Bellegprom
Zhongyuan to implement 4 projects worth $275 million
China's Overseas Development Finance, О нас: Витебский меховой комбинат 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.

All Grantees

Government of Belarus

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