Belarus to implement import substitution projects worth 105 bln rubles in 2-3 years - Deputy PM

MINSK. July 11 (Interfax) - In 2-3 years, Belarus will be implementing import-substituting projects using a loan from Russia for 105 billion Russian rubles, Deputy Prime Minister of Belarus Pyotr Parkhomchik said.

"These technologies, the enterprises that will be created in the next two or three years will solve the problems that have arisen at the present time, taking into account certain actions by unfriendly countries," Parkhomchik said while speaking at the Industrial Dialogue: Russia - Belarus business forum in Yekaterinburg, which was part of the Innoprom-2023 exhibition.

In order to develop the Russian loan, Belarus agreed with Russia on 17 import-substituting projects. "To date, our country has prepared 17 investment projects, the passports of which have been agreed with the Russian government. It is very important that these investment projects are implemented not only on the scale of our state, but that they also solve issues of mutual cooperation, import substitution," said Parkhomchik.

At the end of June, Belarusian Deputy Minister of Industry Dmitry Kharitonchik reported that the cost of the 17 agreed import-substitution projects exceeded 80 billion Russian rubles.

Funding has been opened for the Gomselmash modernization project, and funding is planned for four more projects in the near future, Kharitonchik said. The Belarusian side intends to send passports for four other projects to Russia for approval.

An intergovernmental agreement on providing the Belarusian government with a state financial loan from Russia of up to 105 billion Russian rubles was signed in November 2022.