Kuwait to Provide Belarus with Privileged Loan 11:02, 02/04/2002
Alexander Lukashenko issued a decree “On signing a credit agreement between the Republic of Belarus and the Kuwait foundation of Arab economic development”. Under the document’s provisions it is planned to earmark for Belarus a long-term privileged credit worth 5,1mln Kuwait dinars (around $16,5mln). The money will go to finance the project of reconstruction of the “Khimvolokno” chemical plant.
The loan is due to be paid back within 20 years. The favorable period of reimbursement (only percents are to be paid) is 4 years. The plant’s reconstruction will help enhance the production efficacy and the product’s competitiveness through improving the quality, increasing the quantity and the variety of goods produced.
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