DUSHANBE, May 20, 2013, Asia-Plus – On Sunday May 19, Tajik President Emomali Rahmon met in Beijing with Mr. Hu Hweiban (phonetically spelled), Chairman of the China State Development Bank (CDB), the Tajik president’s official website reports.
The sides reportedly expressed satisfaction with the current level of bilateral cooperation between CDB and Amonatbonk (Tajikistan’s savings bank).
To strengthen credit capacity of Amonatbonk, CDB has provided preferential loans (20 million U.S. dollars and 33 million yuan respectively) to Tajikistan’s savings bank.
The meeting resulted in signing of a trilateral agreement between the Zeravshan Gold Company (ZGC), CDB and Zijin Mining on providing a long-term and referential loan (140 million U.S. dollars) for development of ZGC.
The China Development Bank (CDB) is a financial institution in the People”s Republic of China (PRC) led by a cabinet minister level Governor, under the direct jurisdiction of the State Council. As one of three policy banks of the PRC, it is 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.
On May 20, President Rahmon met in Beijing with Mr. Li Ruogu, Chairman and President of the export-Import Bank of China (China Exim Bank).
President Rahmon appreciated Exim’s s support for many infrastructure development projects in Tajikistan.
The sides expressed confidence that bilateral cooperation between Tajikistan and Exim would expand in the future.
The sides also discussed issues related to acceleration of investment in construction of a rail link connecting Dushanbe and Qurghon Teppa, the capital of Khatlon province, implementation of the Safe City Project (installation of cameras across Dushanbe for round-the-clock monitoring of movement at all important locations such as crossroads, streets and squares), construction of a 500 kV power transmission line in districts subordinate to the center, rehabilitation of a 500 kV construction substation “Regar” and some other important projects, the source said.
The Export-Import Bank of China (China Exim Bank) is one of three institutional banks in China chartered to implement the state policies in industry, foreign trade, diplomacy, economy, and provide policy financial support so as to promote the export of Chinese products and services. Established in 1994, the bank is subordinated to the State Council.
The focus of the bank is to promote foreign trade and investment. It exists within a universe of other Chinese institutions with that mission including China Development Bank and Sinosure but is distinguished by its role as the solve provider of Chinese government concessional loans. Exim is not limited though to concessional funding and commercial operations form the backbone of the bank.
Commercial activity includes export credits mainly in the infrastructure fields (roads, power plants, oil and gas pipelines, telecom, and water projects) and investment loans for Chinese businesses to establish overseas in the energy, mining and industrial sectors.
