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The document was signed by China Development Bank Vice Chairman and President Zheng Zhijie and Belarusbank Chairman of the Board Sergei Pisarik. The credit agreement stipulates the procedure for financing the project for building the mining and processing factory Slavkaliy using raw materials of the Nezhinskoye section of the Starobinskoye potash salt deposit in Lyuban District, Minsk Oblast. The factory will be able to make up to 2 million tonnes of chloride per annum. As part of the project natural gas infrastructure may be developed in 21 populated localities in Lyuban District. A railway station and a railway line as long as 37km will be built. The Lyuban water supply intake and the waste treatment facilities will be reconstructed.

“The work to sign the credit agreement on financing the construction of the new factory was rather difficult but, to the satisfaction of all sides, we have reached the final stage. It is but the beginning of the road. We have a lot of work ahead of us. I think the project will be implemented on time and will reach the targeted performance figures,” stressed Belarusbank Chairman of the Board Sergei Pisarik.

In his words, it is not the first agreement signed with China Development bank. “For instance, the $300 million agreement signed in May 2015 is being rather successfully implemented. The money is primarily invested in power engineering, railway transport. Apart from that, resident companies of the China-Belarus industrial park Great Stone are our priority,” he explained.

Belarusian Economy Minister Vladimir Zinovsky, who was present during the signing ceremony, stressed that the arrival of the China Development Bank President for the sake of signing the credit agreement confirms the advanced nature of relations between Belarusbank and China Development Bank. “China Development Bank heavily invested in various projects of ours. Over ten projects in the area of power engineering, infrastructure have been financed already. We expect that more credit lines will become available. Not only credit projects but investment projects will be implemented in our country with assistance of China Development Bank. It is very important that the bank pours investments and implements projects in the China-Belarus industrial park Great Stone. It helps faster establishment of good industrial enterprises in the park,” stated the Belarusian Economy Minister.

Vigorous business contacts between Belarusbank and China Development Bank began in 2012.

China Development Bank was established in 1994 as part of the reformation of state and commercial banks. The bank is in charge of ensuring the modernization of the country’s social and economic development. The bank’s operation is directly overseen by the State Council of the People's Republic of China. China Development Bank has 38 branches in China and two representative offices in Russia and Egypt.