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6 Aug 2019

Belarus, India working to change lending terms for Bremino-Orsha project

Belarus, India working to change lending terms for Bremino-Orsha project
Photo courtesy of the Embassy of Belarus in India

MINSK, 6 August (BelTA) – Belarus and India are working on changing lending terms for the project to build the multimodal industrial and logistics complex Bremino-Orsha, BelTA learned from Ambassador Extraordinary and Plenipotentiary of Belarus to India with concurrent accreditation to Bangladesh, Nepal and Sri Lanka Andrei Rzheussky on 6 August.

According to the source, in 2015 the Indian government lent about $100 million for the project. Unfortunately, due to a number of reasons the money has not been spent. The fact that it was a tied loan is one of them. “The tied percentage goes all the way to 75%, which does not exactly satisfy the Belarusian side. Respectively, we are trying to negotiate the reduction of the percentage to 40% or ideally to 30%. But even if the figure drops to 50%, it will be much better than it is now,” the diplomat said.

Apart from that, the sides are on the lookout for projects, which can be implemented in the special economic zone Bremino-Orsha. The ambassador noted some progress had been achieved.

A meeting with honorary consuls of Belarus in Bangladesh, India, Nepal, and Sri Lanka took place in the Belarusian Chamber of Commerce and Industry on 6 August. In particular, representatives of the Belarusian private sector were supposed to meet with diplomats in the B2D format. The sides were supposed to discuss prospects of interaction for the sake of expanding export and selling more Belarusian products.

 

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