China’s investments into the construction of multi-storied apartment buildings in Belarus in 2016-2017 will total 700 million yuan (RMB), Belarus’ Vice Minister of Architecture and Construction Alexander Kruchanov said in a statement.
According to him, Belarus is currently short of finance for housing construction and China’s gratuitous aid will somehow improve the situation. Chinese investors will build 16 apartment houses in 2016 and another 22 in 2017, with Belarusian companies contributing as subcontractors. The total investment portfolio is expected to reach 700 million RMB.
The share of housing construction in Belarus’ GDP has been reducing since 2014, when it stood at 10.4%. In 2015 it accounted for 8.3% and fell to 5% in July 2016, but grew to 6% in August. (Prime-TASS/Business World Magazine)
