Active Mixed AidData Chinese Aid

China Eximbank provides $71.825 million preferential buyer’s credit for Production of Hydrostatic Transmissions and Industrial Hydraulic Products Project (Linked to Record ID#66745)

$71.83M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	OJSC “Saleo-Gomel”
Country	Belarus
Start Date	May 15, 2017
End Date	Sep 26, 2028
Duration	4,152 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66744`

Grant Description

China Eximbank provides $71.825 million preferential buyer’s credit for Production of Hydrostatic Transmissions and Industrial Hydraulic Products Project On May 15, 2017, China Eximbank and OJSC “Saleo-Gomel” («САЛЕО-Гомель») — a state-owned manufacturing company in Belarus — signed a $71.825 million preferential buyer’s credit (PBC) loan agreement [CHINA EXIMBANK № PBC 2017 (11) TOTAL № (437)] for the Production of Hydrostatic Transmissions and Industrial Hydraulic Products Project (as captured via Record ID#66744).

On the same day, China Eximbank and OJSC “Saleo-Gomel” signed a $78.96 million preferential buyer’s credit (PBC) loan agreement [CHINA EXIMBANK № PBC 2017 (10) TOTAL № (436)] for the Modern Pneumatic and Hydraulic Cylinders Project (as captured via Record ID#66745).

Both PBCs carried 15-year maturities and OAO ASB Belarusbank was designated as the agent bank responsible for servicing both loans. Their interest rates and grace periods are unknown. The Government Belarus issued sovereign guarantees in support of both loans. The proceeds from both PBCs were to be used by the borrower to support its manufacturing facility in the city of Gomel.

However, in June 2020, OJSC “Saleo-Gomel” filed for bankruptcy.

📋 Staff Comments

The Russian project title is «Организация производства гидростатических трансмиссий, изделийиндустриальной (промышленной) гидравлики».
Neither of the China Eximbank loans that supported this project are included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. In August 2014, JSC Gidroprivod — a leading manufacturer of hydraulics in the Republic of Belarus — was renamed OJSC “Saleo-Gomel'.

📚 Sources & References

Холдинг Салео возьмет 150 млн. долларов у Китая под гарантии правительства, Постановление СМ РБ 612 15.08.2017 О реализации Кредитного соглашения Подробнее: https://kodeksy-by.com/norm_akt/source-%D0%A1%D0%9C%20%D0%A0%D0%91/type-%D0%9F%D0%BE%D1%81%D1%82%D0%B0%D0%BD%D0%BE%D0%B2%D0%BB%D0%B5%D0%BD%D0%B8%D0%B5/612-15.08.2017.htm, Экспресс-бюллетень законодательства Республики Беларусь за период с 11 по 17 мая 2017 г., Беларусь в 2017-2021 годах намерена привлечь китайские кредиты на $150 млн для реализации двух инвестпроектов, 'Салео-Гомель' получит около $72 млн китайских инвестиций на развитие производства, ОАО «САЛЕО-Гомель», О компании, Приватизация по указу. Лукашенко разрешил продать гомельский завод приближенному бизнесмену/ предприятие на грани банкротства. Подробности от «Сильных Новостей» — Сильные новости, ООО 'САЛЕО'- управляющая компания холдинга' - ИС ЕГРСБ, САЛЕО-Гомель - Google Search, ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 4 мая 2009 г. No 572, УКАЗ ПРЕЗИДЕНТА РЕСПУБЛИКИ БЕЛАРУСЬ 31 декабря 2018 г. No 507 Об уточнении отдельных показателей республиканского бюджета на 2018 год
China's Overseas Development Finance, Холдинг Салео возьмет 150 млн. долларов у Китая под гарантии правительства
Page 8, belmarket.by 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.

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OJSC “Saleo-Gomel”

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