Belarus Received $900 Million from China

25.11.2010 13:31

National Bank of Belarus in the People's Bank of China received CNY6 billion ($900 million equivalent). Funds transfer was held in accordance to a swap agreement, signed by the parties earlier. As explained in the National Bank of Belarus, it will increase international reserves of the country in national terms.

National Bank of Belarus and the People’s Bank of China signed an agreement on holding the currency swap in March 2009 «to promote bilateral trade and investment for economic development of the two countries.» Under the agreement, China will provide Belarus with CNY20 billion (nearly Br8.9 trillion).

As Telegraf previously reported, chairman of the National Bank of Belarus Petr Prokopovich said on November 23 that the National Bank was currently finalizing a currency swap agreement with Lithuania. According to him, it’s a basic agreement to be negotiated on the specific amounts, terms and conditions thereafter.