DUSHANBE, November 26, 2011, Asia-Plus — On Thursday November 24, Tajik Deputy Minister of Finance, Jamshed Norinov, met here with a delegation of the China Development Bank (CDB), led by Zhao Qingming, Director of Department 1, CDB, the Ministry of Finance (MoF)’s Secretariat reports.
In the course of the talks, Tajik official reportedly pointed out bilateral activity aimed at providing macroeconomic stability and accelerating structural reforms in Tajikistan as well as expanding regional cooperation.
Norinov appreciated CDB’s active cooperation with Tajikistan’s savings bank, Amonatbonk, within the framework of the Interbank Council of the Shanghai Cooperation Organization (SCO).
The sides, in particular, underlined the significance of solving issues related to financing energy development projects and enhancement of the real sector of Tajikistan’s economy.
The Tajik side expressed gratitude for participation of CDB in financing a number of projects aimed at construction of hydropower facilities as well as rehabilitation and construction industrial enterprises in Tajikistan, the source said.
The China Development Bank (CDB) is a financial institution in the People”s Republic of China (PRC) 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 the PRC, primarily responsible for raising funding for large infrastructure projects, including most of the funding for the Three Gorges Dam and Shanghai Pudong International Airport.
Established by the Policy Banks Law of 1994, the bank is described as the engine that powers the national government’s economic development policies. Debts issued by CDB are fully guaranteed by the central government of China. The bank was the second-biggest bond issuer in China after the Ministry of Finance in 2009, accounting for about a quarter of the country’s yuan bonds. In that year, the bank also overtook Bank of China to be China’s biggest foreign-currency lender. At the end of 2010, CDB had US$687.8 billion in loans, more than twice as much as the World Bank.
