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Minsk negotiating funding for import substitution projects with Russia

Relevant ministries of the two countries approved earlier 27 datasheets of looking-forward investment projects, with investments in them above 165 bln Russian rubles ($1.9 bln), Alexander Efimov said

MINSK, July 22. /TASS/. Belarus is negotiating allocation of 100 bln Russian rubles ($1.1 bln) more as borrowed funds for implementation of import substitution projects, Belarusian Minister of Industry Alexander Efimov told reporters.

"Since we have already drawn down the limit two presidents negotiated, we are now working on the loan facility increase by about 100 bln Russian rubles more," Efimov said, cited by the BelTA news agency.

Relevant ministries of the two countries approved earlier 27 datasheets of looking-forward investment projects, with investments in them above 165 bln Russian rubles ($1.9 bln), the minister said. "Resources are being drawn down proactively. All the projects are at a high stage of implementation and all the 27 projects will achieve design capacities as of the end of 2026," he noted.

The projects have already been agreed provisionally with the Russian Ministry of Industry and Trade, the Belarusian minister added.

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