China May Allot 200 Million Dollars for the Reconstruction of Belarusian Roads

20.07.2010 17:09
Архив Редакция

Belarus and China are continuing talks on allotting a loan in the amount of 200 million for the reconstruction of M5 Minsk-Gomel highway in the section of Bobruisk-Zhlobin. It was reported at a press conference on July 20 by the head of the road maintenance department of Belavtodor company of Belarus' Ministry of Transport and Communications of, Alexander Golovnev.

According to him, the issue of attracting Chinese loan is being worked out, there has been already conducted a number of talks with Chinese banks. «There are serious reasons to say that this loan will be allotted. We must build this road in two years», Alexander Golovnev stated, BelTA informs.

However, the official recalled that Chinese banks offered connected loan, which provides the use of Chinese materials and equipment and involvement of Chinese experts. The Belarusian side is negotiating to reduce the proportion of connectedness. Firstly, China insisted on working off of 70% of the loan, planned to allocate, but it was possible to reduce this figure to 30%. «It is acceptable to us, otherwise we’ll get a situation when Chinese specialists will come to us, build a road, earn money. But we can not agree with it, because our road services are not fully loaded with work», Alexander Golovnev declared.

According to Belavtodor representative, the parties have not reached the level of project signing, Belarus is looking for Chinese construction company, ready to work in Belarus. «Only after we agree on cooperation, the Chinese bank will allocate a loan», the official said.

He also reported that there continue negotiations with the World Bank on a loan for the reconstruction of M5 highway, but already in the section of Osipovichi-Bobruisk. According to him, all necessary documents were endorsed in the government, the project was approved, and Transport Ministry was authorized to sign loan agreement.