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Overview

China Development Bank provides loan for Trade and Logistics Park Within Great Stone Industrial Park Project

Commitments (Constant USD, 2023)$109,850,830
Commitment Year•2015Country of Activity•BelarusDirect Recipient Country of Incorporation•BelarusSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015
Start (actual)
Dec 11, 2015
End (actual)
May 12, 2017

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of the project was to construct a trade and logistics park within Great Stone Industrial Park, which is located in the Smolevichi district between the Petrovichi reservoir and Minsk National Airport (25 km to the east of the capital city of Minsk). More detailed locational information can be found at https://www.openstreetmap.org/node/4109323990.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • CJSC China Merchants CHN-BLR Commerce and Logistics Company

Implementing agencies

Joint Venture/Special Purpose Vehicles

  • CJSC China Merchants CHN-BLR Commerce and Logistics Company

Loan desecription

China Development Bank provides loan for Trade and Logistics Park Within Great Stone Industrial Park Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2015, China Development Bank issued a loan to CJSC China Merchants CHN-BLR Commerce and Logistics Company (CMCB or 招商局中白商贸物流股份有限公司 or 简称“招商中白) for the Trade and Logistics Park Within Great Stone Industrial Park Project. The face value and borrowing terms of the loan are unknown. CJSC China Merchants CHN-BLR Commerce and Logistics Company is a subsidiary of two Chinese state-owned enterprises: China Merchants Group and China Merchants Logistic Group. It was registered in Belarus on May 6, 2015, and an official application was filed for the registration of the company in the residents of Great Stone Industrial Park on May 8, 2015. The company was responsible for building the trade and logistics subpark within Great Stone Industrial Park, which is located in the Smolevichi district between the Petrovichi reservoir and Minsk National Airport (25 km to the east of the capital city of Minsk). The trade and logistics subpark occupies an area of 100,000 square meters and includes a business center, exhibition center, and warehouses. The $150 million project commenced on December 11, 2015 and was completed in full on May 12, 2017.

Staff comments

1. This project is also known as Phase 1 of the Trade and Logistics Park Within Great Stone Industrial Park Project. The Russian project title is Чайна Мерчантс Китайско-Белорусский Торгово-Логистический Парк or Чайна Мерчантс Китайско-Белорусский Коммерческий и Логистический субпарк. The Chinese project title is 中白商贸物流园 or 的中白商贸物流园项目. 2. The face value of the loan is unknown. For the time being, AidData assumes that this $150 million project was financed according to a debt-to-equity ratio of 70:30. This issue warrants further investigation.