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16 May 2017

China may allocate $1bn for modernization of Belarusian oil refineries

BEIJING, 16 May (BelTA) – China will consider the ways of allocating a $1 billion loan to Belarus to complete the modernization of the country’s oil refineries, Chinese President Xi Jinping said as he met with Belarus President Alexander Lukashenko in Beijing on 16 May, BelTA has learned.

According to Xi Jinping, China has the possibility of providing assistance to Belarus in the matter. He instructed the heads of the corresponding agencies to consider the issue.

The projects on the modernization of the Belarusian oil refineries are technically challenging. The necessary technologies are mainly owned by European and American companies. The successful implementation of such projects largely depends on the availability of untied funds.

Specialists name $1 billion as the necessary amount of funds for the implementation of the projects.

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