Belarusbank and China Development Bank (CDB) have signed a credit agreement of 1.4 billion U.S. dollars for a potash project in Belarus, the state-owned Belarusian bank said in a statement.
The agreement, signed on Friday, stipulates the procedure for financing the project of building the mining and processing factory Slavkaliy, using raw materials of the Nezhinskoye section of the Starobinskoye potash salt deposit in Minsk region of Belarus.
The factory will be able to produce 2 million tonnes of chloride a year.
"The beginning of such a large-scale project demonstrates the big potential of our cooperation (with Chinese banks)," said Sergei Pisarik, Chairman of the Board of Belarusbank.
