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China funding over 20 investment projects in Belarus

MINSK, 30 October (BelTA) – Belarus is implementing over 20 big investment projects together with China, Vice Premier of Belarus Anatoly Tozik told media following the 13th meeting of the Belarusian-Chinese intergovernmental commission for trade and economic cooperation on 30 October.

According to the Vice Premier, today the total amount of China’s support makes up nearly $5.5 billion in loans. “We have entered the next stage of cooperation where Chinese companies come to us with direct investments,” Anatoly Tozik said. He made an emphasis on the project to construct Peking Hotel in Minsk with the total investment of nearly $90 million. The project is implemented ahead of the 2014 IIHF World Championships in Minsk. The Belarusian official also named the construction of the Lebyazhy residential district in Minsk and car-manufacturing, a new joint project of the Minsk Wheeled Tractor Plant.

China’s direct investment will be on the rise, Anatoly Tozik believes.