China Eximbank provides loan for Vitebsk Fur Factory Modernization Project

In 2011, China Eximbank agreed to provide a loan to the Government of Belarus for the Vitebsk Fur Factory Modernization Project. The face value of the loan is unknown. The loan carried a 20 year maturity and a 3% interest rate. The Government of Belarus then on-lent the proceeds of the loan to a private company called RUE Vitebsk Fur Factory (РПУП «Витебский меховой комбинат»). RUE Vitebsk Fur Factory then used the loan proceeds to finance a commercial contract with China Zhongyuan Engineering Corporation. The purpose of this project was to modernize and relocate the manufacturing facilities of RUE Vitebsk Fur Factory in the city of Vitebsk. China Zhongyuan Engineering Corporation was the contractor responsible for implementation. It signed an implementation agreement on January 12, 2011 and it ultimately completed the project, but its precise implementation start and end dates are unknown.

Additional details

The Russian project title is «Витебский меховой комбинат». The Chinese project title is 维捷布斯克皮草厂. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.

Number of official sources

7

Number of total sources

13