Business news

MINSK, 29 September (BelTA) – China will finance the construction of social facilities in the China-Belarus industrial park Great Stone, BelTA learned from Kirill Koroteyev, First Deputy Director General of SZAO Industrial Park Development Company, on 29 September. The executive commented on the memorandum on cooperation in developing the industrial park using technical and economic aid. The Belarusian Economy Ministry and the Chinese Commerce Ministry signed the document in Beijing on 29 September.

As part of the memorandum technical and economic aid will be allocated in tranches every year in addition to previous agreements for the sake of accomplishing projects in the China-Belarus industrial park Great Stone. “The memorandum is a systemic document. It specifies a mechanism for implementing this aid. There are plans to determine areas and concrete projects to finance in the first quarter of every year. Building social and housing infrastructure has been determined as a priority,” said Kirill Koroteyev.

In his words, for now technical and economic aid will be channeled into the construction of the facilities, which are supposed to be built in the first stage of the China-Belarus industrial park Great Stone project. Those include a children daycare center, a clinic and some other things. SZAO Industrial Park Development Company is expected to build homes in the park. “Social infrastructure is usually built using state budget resources but China is ready to help us out. This is why we will be able to build homes and social facilities, making the park comfortable for its workers,” explained Kirill Koroteyev.

The executive stated that the first tranche of technical and economic aid is supposed to be transferred in 2017, however, the concrete sum will be revealed later. “Chinese partners have said that the document specifies no clear sum in order to set no limits,” noted Kirill Koroteyev.