DUSHANBE, March 5, Asia-Plus — A delegation of China’s Export-Import Bank (Eximbank) led by its vice president Li Jun arrived in Dushanbe on March 4 for a three-day visit.
According to the National bank of Tajikistan (NBT), the main purpose of the visit is for the delegation to familiarize itself with a progress of the implementation of project supported by the bank.
We will recall that Barqi Tojik (Tajik electric system) power holding and China’s power company, China Theban Electric Apparatus Stock Co (CTEAS), in April 2006 signed in Dushanbe two contracts worth totaling US$340 million on the construction of high-voltage electricity transmission lines in Tajikistan.
The sides agreed to build a 500-kilovolt 350-kilometer electricity transmission line South-North linking Tajikistan”s southern and northern regions and a 220-kilovolt 93-kilometer line Lolazor-Obimazor in the Khatlon province. The estimated budgets for the projects are $267 million and $59 million, respectively. Tajikistan’s share in these projects is $40 million.
Eximbank has provided $300 million for these projects as part of its $900 million preferential loan to member nations of the Shanghai Cooperation Organization (SCO).
During the convocation of the SCO Summit, Eximbank signed preferential export buyer’s credit agreement with Tajikistan on June 15, 2006. The signed agreement is mainly focused on infrastructure projects, which have a great strategic bearing on the development of national economy and people’s living level in the republic.
The source at a NBT said that the loan provided under the agreement carries an annual interest rate of 2.2 percent and is repayable over 25 years with a seven-year grace period on principal payment.
Today, Li Jun held talks with senior representatives from the Tajik central bank to discuss a progress of the implementation of the mentioned project. Today afternoon, Li is also scheduled to meet with President Emomali Rahmonov and Finance Minister Safarali Najmuddinov. During his stay in Dushanbe, Eximbank vice president is also expected to meet with senior representatives from other Tajikistan’s ministries and organizations.
