A $59mn loan will be granted under a term of up to five years, it said. The share of Russian components in the cost of the delivered products is more than 30%. This is a prerequisite for VEB participation project financing.

Russia`s VEB.RF intends to finance the procurement of mining dump trucks manufactured by Belarus` BelAZ for Uzbekistan`s Almalyk mining and metallurgical complex.

A $59mn loan will be granted under a term of up to five years, it said. The share of Russian components in the cost of the delivered products is more than 30%. This is a prerequisite for VEB participation project financing.

"This is the first deal of a new format of cooperation between Russia and Belarus. Mining trucks will be delivered to one of the largest copper, gold and silver mining enterprises in Central Asia. VEB.RF provides the buyer with a long-term loan, the interest rate of which will be subsidized from the Belarusian budget. The implementation of this project was made possible thanks to the effective cooperation of the two governments and financial institutions. Our mutually beneficial partnership not only develops trade relations between the countries, but also supports our enterprises by loading their production capacities, " said VEB.RF deputy chairman Daniil Algulyan.

https://uzreport.news/economy/russian-vebrf-to-finance-procurement-of-mining-dump-trucks-by-ammc