Dushanbe. 20 August. “Asia Plus” — Negotiations about the involvement of credit funds by the National Bank of Tajikistan (NBT) from the State Development Bank of China at the rate of $ 500 million are nearing their completion.
As the NBT reported to “AP”, the Chinese side has already stated that the allocation of these funds is not a problem. “The negotiation process continues, some technical issues, interest rates, specific deadline of credit repayment and grace period should be cleared, – said the source. – The issue will be fully solved during the next negotiations”.
National Bank said that the funds will not have to do with the external public debt of Tajikistan. “These funds will be involved not on a security of the state”, – stressed the governor.
The NBT stressed that the involvement of China Development Bank loan will be carried out on the swap basis – the multiperiod exchange of payments in the national currencies of two countries. “The funds will be partly involved”, – said a source from NBT.
According to him, the main purpose of attracting Chinese loan is to reduce the dependence of Tajikistan on the US dollar. “After receiving these funds the agency of dollar will significantly weaken when importing Chinese products. Our entrepreneurs who will bring Chinese products would be able to leave their money in the national currency in Tajikistan and receive Yuan in China for a fixed rate”- said the source, noting that “the demand for the US currency generally have the entrepreneurs who import the products.”
The NBT stressed that for the weakening dependence Tajikistan”s economy on the dollar, there are intentions to conclude similar agreements with the banks of other countries who are the major trading partners of the republic.
Earlier the management of NBT stated that plans to involve credit resources of two more banks in China in order to support the national currency rate. “Working Group of the National Bank went to Beijing, where held talks for raising funds of these lending agencies with the National Bank of China and Agricultural Bank of China”, – said the head of NBT Jamshed Nurmahmadzoda in late July this year to the reporters.
