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China Loans Belarus One Billion Dollars

The Belarusian parliament said that China has given Belarus a loan of $1 billion and a grant of some $11 million.

A statement from parliament quoted the head of the Chinese National People's Congress, Wu Bangguo, as also announcing agreements to build a communications satellite, a paper factory, and a hotel in Minsk.

Belarus is suffering its worst economic crisis since the collapse of the Soviet Union.

The Belarusian government has applied for an $8 billion loan from the International Monetary Fund, but the IMF has demanded reforms in exchange.

compiled from agency reports

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