ANNOUNCEMENT 11 Mar 2014In March 2014, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
11 2014 . 204
4 2009 .
With Decree 204 of March 11, 2014, Belarus provided a state guarantee to the Import-Export Bank of China. Its purpose is to secure a loan of 29'750'000 USD to be extended in 2014-2015 by the Chinese bank to Belarusbank, and subsequently to be allocated to the Belarusian company JSC Svetlogorsk pulp and board.
The state-supported bank loan will finance an investment loan of the company (building of production facilities for cellulose production with capacity of 400 000 tonnes per year).
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.