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Yefimov: Belarus is in talks with Russia on another RUB100bn loan

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MINSK, 22 July (BelTA) - Belarus is negotiating with Russia another RUB100 billion loan for the implementation of import-substituting projects, Belarusian Industry Minister Aleksandr Yefimov told the media after the meeting hosted by Belarusian President Aleksandr Lukashenko on 22 July to discuss the development of the Belarusian industry, BelTA has learned.

According to Aleksandr Yefimov, earlier the relevant ministries of the two countries approved 27 passports of promising investment integration projects. The total amount of investment exceeds RUB165 billion. “The selection of resources is in full swing. The implementation of all projects is underway, and by the end of 2026, all 27 projects will reach their design capacity,” the minister informed.

“Since we have already utilized the limit agreed upon by the two presidents [the presidents of Belarus and Russia], we are currently working on increasing the credit line by another RUB100 billion,” Aleksandr Yefimov said.

According to him, the projects have already been preliminarily agreed with the Russian Ministry of Industry and Trade. At present, the parties are in the process of settling certain provisions of the relevant intergovernmental agreement, after which it will remain to obtain the consent of the Russian side in the form of a signed agreement on the allocation of the loan. “Thus, in the near future we will have additional projects, first of all [in ensuring] the technological sovereignty of the Union State [of Belarus and Russia],” the industry minister said.

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