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12 Sep 2017

Belarusbank to expand cooperation with China in financing bilateral contracts

MINSK, 12 September (BelTA) – Belarusbank and the China export and credit insurance corporation SINOSURE have signed a framework agreement on cooperation, BelTA has learned.

The document was signed by Belarusbank Chairman of the Board Viktor Ananich and SINOSURE Chairman of the Board Wang Yi. The agreement is supposed to become the foundation of strategic partnership. The agreement was signed with a view to improving the organization of financing of foreign trade contracts of Belarusian and Chinese commercial entities.

Viktor Ananich said: “Belarusbank and SINOSURE have projects worth over $2 billion in Belarus. The signed agreement will enable other projects, including in the area of power engineering, transport, and logistics. It will affect not only state companies, but private ones as well. Belarusbank is open to new ideas, initiatives, which will benefit both countries.”

SINOSURE is the world’s largest state agency in charge of ensuring export loans.

For over ten years Belarusbank has been cooperating with Chinese financial circles and takes part in the financing of foreign trade contracts signed by Belarusian and Chinese companies to the tune of over $4 billion. Belarusbank has a representative office in China.

 

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