EDB backs Belaruskali with $400m loan

Region:

Europe

Belarusian potash mining company OAO Belaruskali.has signed two five-year loans totalling $400 million with the Eurasian Development Bank to finance the company’s working capital and investment programme. The amount includes $100 million provided earlier under the loan agreement signed in May 2019.

The funds will be used to enhance potash fertiliser production in Belarus, including the commercial development of the Petrikov potash deposit with the construction and commissioning in 2021 of a mining and processing plant in Gomel Region with an annual capacity of not less than 1.5 million tonnes of potassium chloride.

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