Chinese $500mn bank wire arrives in Belarus
Belarus may use the emergency loan from China to support its gold and currency reserves.
Belarus has received an emergency loan from China worth $500 million, reports the press office of Belarusian Finance Ministry. The deal on the loan was reached on 16 December in Shanghai, and already on 20 December, the money was wired.
Experts assume that the loan may be used to support Belarus' gold and currency reserves and service the state loan.
The Finance Ministry has described the deal 'unprecedented', which manifests a new level of relations between Belarus and China Development Bank and higher trust by Chinese financial institutions in Belarus as a reliable borrower.