Jan., 26/Lesprom Network/. Byelorussian Svetlogorsky pulp and cardboard enterprise will receive state-funding for the building of the 2nd term of pulp and paper enterprise in exchange for shares, Byelorussky Rynok newspaper reported. In late 2004 Byelorussian government adopted regulation N 1611 that outlines the procedure of Svetlogorsky further funding. The enterprise will get budget fundings in BYR and a loan in foreign currency. BYR 11 billlion will be allocated from the budget, including BYR 4.5 billion in 2004 from financial reserve, BYR 6.5 billion – in 2005 from the funds reserved for budget loans. The government will charge 34% interest for the loan, including 2% - pecuniary interst and 32% - through the increase of state-owned stake in the stock capital of the company. The loan in foreign currency will reach $9.7 million. $8.3 million will be allocated from the financial reserve for 2004, while the remaining amount of $1.4 million will be attracted from the funds aimed at budget loans with 12% interest (Byelorussian National Bank exchange rate). The enterprise will pay 6.5% annual interest in foreign currency for the loan, and the state will increase its stake to 5.5%. The loans should be paid from July, 1 2006 to December, 31 2010. The 2nd term of construction will be launched in December 2005. Svetlogorsky pulp and cardboard enterprise is the largest enterprise in Europe producing corrugated tare and the only Byelorussian enterprise producing pulp. The 1st line of the pulp mill allows to produce 40-60 thousand tons of pulp/yr, while the enterprise is capable of processing 500 million cub m of timber and 115 thousand tons of pulp/yr. The state owns 47.23% of the shares, 14.04% owned by Damino Associates, 13,92% by Bushell Corporation, 11.61% by Eton Association Inc., other companies – 0.79% and individuals – 12.41%.