Active Mixed AidData Chinese Aid

China Development Bank pledges $1.5 billion loan for Great Stone Industrial Park (Linked to Record ID#42313, ID#66959, ID#66961)

$1.5M USD

Funder	China Development Bank (CDB)
Recipient Organization	Government of Belarus
Country	Belarus
Start Date	Jan 01, 2013
End Date	Jun 04, 2028
Duration	5,633 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73246`

Grant Description

China Development Bank pledges $1.5 billion loan for Great Stone Industrial Park In December 2011, the Belarusian Parliament ratified a framework agreement with the Chinese Government to implement several joint investment projects, including the Great Stone Industrial Park.

Then, on January 17, 2013, China Development Bank and the Ministry of Economy of Belarus signed a construction financing framework agreement with a China-Belarus joint venture and project company called CJSC “Industrial Park Development Company” (中白工业园区开发股份有限 or China-Belarus Industrial Park Development Company or CBIPDC or Компания по развитию индустриального парка) for the Great Stone Industrial Park Construction Project.

During the very same month, the Ministry of Economy of Belarus announced that China Development Bank intended to provide a $1.5 billion loan for the construction of Great Stone Industrial Park.

In 2012, China Eximbank also pledged to lend as much as $1.5 billion fo the construction of Great Stone Industrial Park.

Record ID#42313 captures the $1.5 billion loan pledge from China Eximbank in 2012 and Record ID#73246 captures the $1.5 billion loan pledge from CDB in 2013.

📋 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

对外投资指南白俄罗斯2019
Sinomach
China Merchants build 'a pearl on Silk Road' in Belarus
Belarusian-Chinese economic alliance: what's the benefit for Minsk
中国与白俄罗斯签订大单：近20项协议价值157亿美元
白俄罗斯称有望获得中国逾一百亿美元投资
白俄罗斯与中国签署中白工业园第一期融资框架协议
China-Belarus Industrial Park
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.