DUSHANBE, November 18, 2009, Asia-Plus — On Monday November 16, Sharif Rahimzoda, the head of the National Bank of Tajikistan (NBT), met with Chen Yuan, the governor of the China Development Bank (CDB), in Sian, China on sidelines of the Eurasian Economic Forum that was held there on November 16-17.
Chairman of Amonatbonk (Tajikistan’s savings bank), Mahmadamin Mahmadaminov, and Minister of Energy and Industries, Gul Sherali, also attended the meeting.
Amonatbonk press service reports that during the meting, Rahimzoda noted that Tajikistan’s gross domestic product (GDP) rose 2.1 percent in ten months to October 31, 2009. Over the same period of last year, the country’s GDP rose 1.8 percent.
Inflation for January-October 2009 stood at 4.7 percent. Over the report period, the Tajik national currency, the somoni, has fallen 27 percent against the dollar.
Rahimzoda said a considerable decrease in the country’s economic growth rates has resulted from the plunge in the price of Tajikistan”s major commodities — aluminum and cotton.
The China Development Bank (CDB) is a financial institution in China under the direct jurisdiction of the State Council. It is the only bank in China whose governor is a full minister. It is one of the three policy banks of China, primarily responsible for raising funding for large infrastructure projects. The bank was established by the Policy Banks Law of 1994. Debts issued by CDB are fully guaranteed by the central government of China. CDB is one of the biggest issuers of bonds in China. The bank is the most profitable bank in China, and the second most profitable bank in Asia.
