PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of May 15, 2015 No. 208

About use of credit resources of National bank of development of China

For the purpose of ensuring mutually beneficial trade and economic cooperation with People's Republic of China, I decide increases in availability of credit resources to implementation of investment projects:

1. Agree with attraction by "Development Bank of the Republic of Belarus" open joint stock company and open joint stock company "Belarusbank savings bank (further - borrowers) credit lines according to the Memorandum of understanding between the Ministry of Finance of the Republic of Belarus and National bank of development of China of September 26, 2014 (further - the Memorandum) in the amount to 700 million US dollars and to 300 million US dollars respectively under guarantees of the Government of the Republic of Belarus (further - guaranteed loans) by the conclusion of general credit agreements with National bank of development of China.

2. Determine that borrowers:

2.1. sign contracts on procedure for use and repayment of guaranteed loans with the Ministry of Finance;

2.2. issue in the procedure established by them at the expense of means of guaranteed loans the credits to legal entities of the Republic of Belarus, including subjects of small and medium business, for financing of investment projects.

The "Development Bank of the Republic of Belarus" open joint stock company issues the credits specified in part one of this subitem without the requirement of the Presidential decree of the Republic of Belarus of June 21, 2011 to No. 261 "About creation of "Development Bank of the Republic of Belarus" open joint stock company (The national register of legal acts of the Republic of Belarus, 2011, No. 71, 1/12628) about crediting by "Development Bank of the Republic of Belarus" open joint stock company only the projects included in state programs and actions;

2.3. exercise control of target use and timely repayment of the loans which are granted according to subitem 2.2 of this Item, implementation of the investment projects financed by such credits;

2.4. quarterly to the 25th following reporting quarter submit the report on the course of implementation of the investment projects financed by guaranteed loans in the Ministry of Economics.

3. To Council of Ministers of the Republic of Belarus to provide provision of guarantees for the Government of the Republic of Belarus to National bank of development of China in the general credit agreements called in Item 1 of this Decree (further - guarantees of the Government of the Republic of Belarus) in ensuring repayment of principal debt, percent and other payments on them.

The payment for provision of guarantees for the Government of the Republic of Belarus is made one-timely in the amount of percent 0,01 from the amount of guaranteed loans.

4. Issue, registration and execution of guarantees of the Government of the Republic of Belarus, and also execution of contractual relations on guaranteed loans are performed according to Regulations on the external state loans and external loans attracted under guarantees of the Government of the Republic of Belarus, the approved Presidential decree of the Republic of Belarus of April 18, 2006 with No. 252 (The national register of legal acts of the Republic of Belarus, 2006, No. 69, 1/7495).

5. Grant the right to explain questions of application of this Decree to Council of Ministers of the Republic of Belarus.

6. To impose control over the implementation of this Decree on the State Control Committee.

7. This Decree becomes effective from the date of its signing.

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