Eurasian Development Bank provides $400 million loan to Belaruskali

The Eurasian Development Bank and Belaruskali signed a loan agreement to the tune of $400 million. The money is provided at a comfortable interest rate for 5 years. It will be used for technical re-tooling and financing of the enterprise’s working capital, the construction of the Darasinsky mine, launch of the second stage of the potassium nitrate plant, and also for the completion of the project to construct the Petrikovsky mining and processing plant, whose first stage will be commissioned next year. In 2019, about 90% of Belaruskali's output was exported, 10% was sold domestically. The company's capacity utilization is temporarily reduced to 75%.