Belarus in talks with Russia, China over loans for road renovation projects
Belarus is negotiating loans with Russia and China to fund its road renovation projects, head of the motorway development department of the main directorate for motorways at the Belarusian Transport and Communications Ministry Sergei Leonchik said at the BelTA press center.
“We are in talks with Russian and Chinese partners, but this work is rather complicated. Belarus maintains a balanced position, while our partners from China and the Russian Federation have opted for a wait-and-see approach. Today we are working under sanctions, and we need to clearly understand all the risks for all parties of this process. The Economy Ministry is working hard to raise funds for the road sector. The Ministry of Transport and Communications has prepared applications and sent investment proposals. They are now under consideration,” said Sergei Leonchik.
The participation of the Eurasian Development Bank in Belarus' road renovation projects is also being discussed. “We suggest those projects where we have completed design documentation and examination. Our partners are considering them. Decisions will be made based on economic feasibility, since any loan has a price, an interest rate. The payback of each project must be carefully calculated and these projects should pay back fast. Negotiations have been ongoing throughout this year, but so far no agreements have been reached,” the representative of the Ministry of Transport and Communications informed.
Written by belta.by
