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Belarus Finance Minister Uladzimir Amaryn says the money will be used to service the previous Russian loan.
They are connected with credit and investment cooperation.
Why China gives us loans and participates in the Belarusian investment projects?
China is to allocate $3bn in concessional lending and $4bn as a commercial loan to Belarus banks.
Since the beginning of the year, prices have risen by less than 6%.
Their arrears to suppliers are 300 billion rubles.
The phone conversation has been initiated by Belarus.
National Bank's chairman Pavel Kalaur says the level of inflation has to be at no more than 9% in order to cut loan rates.
It is necessary to support Belarusian producers and help them unload warehouses, Minister Valyantsin Chakanau stressed.
