Belarus takes over half of Russian credit for import substitution projects - Russian Minister

MINSK. June 15 (Interfax) - Belarusian companies have chosen 60 billion Russian rubles for import substitution projects from a 105 billion ruble Russian state loan, Secretary of State and Russian Deputy Minister of Industry and Trade Viktor Yevtukhov said.

"We have already signed 16 agreements based on the 105 billion ruble loan. (...) Of the 105 billion rubles, 60 billion rubles have been allocated to this," Yevtukhov said, speaking on Thursday at a profile session of the SPIEF-2023.

"The most important project, Gomselmash, is already financed by our Ministry of Finance, 500 million rubles have been allocated," he said.

Yevtukhov stressed the importance of launching import substitution projects in aviation and the machine tool industry. "In particular, on the organization of production in Belarus of a 19-seat turboprop aircraft at the 558th aircraft repair plant and grinding equipment at the Krasny Borets plant," he said. Aviation requires capital intensive programs, the deputy minister said.

Earlier, the Belarusian Industry Ministry's press service reported that the Belarusian side had prepared 16 import substitution projects worth 80 billion rubles for financing under the Russian state loan for 105 billion rubles.