12:31 GMT +325 March 2019
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    Belarusian President Alexander Lukashenko (3nd-L) meets with Chinese Premier Li Keqiang (R) at the Great Hall of the People in Beijing (File)

    Belarus, China Pledge to Set Up $20Mln Venture Capital Fund - Official

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    Head of Belarusian committee for technology said that Belarus and China signed a deal on Wednesday to set up a multi-million venture capital fund to promote investment in the Eastern European nation.

    MINSK (Sputnik) Belarus and China signed a deal on Wednesday to set up a multi-million venture capital fund to promote investment in the Eastern European nation, the head of Belarusian committee for technology said.

    "We are signing today an agreement in principle and commit to create a Belarusian-Chinese venture fund, with a minimal capitalization of… at least $20 million," Alexander Shumilin, who chairs the State Science and Technology Committee, told reporters.

    The fund will manage the money of investors who seek equity stakes in start-ups and innovative enterprises in Belarus.

    State officials have made up a list of 43 projects that will be expanded every year. For now, it includes a drone-making program and projects to produce edible packaging as well as reinforced bearings using nanotechnologies, among other initiatives.

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