DUSHANBE, May 18, 2015, Asia-Plus — On Monday May 18, Tajik President Emomali Rahmon met here with visiting Assistant Governor of the China Development Bank (CDB), Mr. Zhao Xiaoyu.
According to the Tajik president’s official website, the two sides discussed state and prospects of further expansion of cooperation between Tajikistan and the China Development Bank.
They, in particular, discussed cooperation development programs that are still under consideration.
In the course of the talks, President Ramon appreciated China’s support for carrying out socioeconomic reforms in Tajikistan and expressed confidence in further expansion of bilateral cooperation between the two countries.
Cooperation between Tajikistan and the CDB were reportedly established in 2009 and since that time, the CDB has provided preferential loans to a total amount of more than 100 million U.S. dollars for development of Tajikistan’s small and medium-sized enterprises (SMEs) alone.
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.
Debts issued by CDB owned by local banks are treated as risk free assets under the proposed People”s Republic of China capital adequacy rules i.e. same treatment as PRC government bonds. The bank is 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, and the biggest foreign-currency lender.
CDB now has 35 branches and one representative office across the country. The bank provides financing for national projects such as infrastructure, basic industries, energy and transportation.
