The China Development Bank (CDB) will provide a loan of 100 million yuan (equivalent to more than US$13.8 million) to Tajikistan’s Amonatbonk, a state-run savings bank.
The Amonatbonk’s official website says the agreement on providing the loan of 100 million yuan was in inked by Sirojiddin Ikromi, Chairman of the Amonatbonk Board, and Tan Jiong, President of the CDB, in Dushanbe on November 17.
The agreement reportedly provides for extension of small loan for development of agrarian sector and small and medium-sized enterprises (SMEs) in Tajikistan as well as introduction of equipment and technologies for the production of import-substituting goods in Tajikistan.
The agreement also provides for lending to entrepreneurs importing goods from China.
On November 17, the Chinese delegation reportedly also met with a group of bank specialists to discuss cooperation issues.
It was noted during the meeting, that 10 cooperation agreements were signed between the two banks over 15 years of cooperation, including nine loan agreements totaling worth US$81.5 million and one memorandum of understanding on cooperation on training of personnel.
The loans were reportedly channeled to financing 74 various projects in 36 cities and districts of Tajikistan.
Amonatbonk is the only state-owned bank. Established in 1925, it is one of the oldest banks in Tajikistan and one of the largest based upon various criteria – including the number of branches and the number of served clients.
The institution is unique in its orientation towards implementing social, pension and other state programs. Amonatbonk has 5 regional centers, 69 branches and more than 500 agencies. This gives the institution a presence in the most remote mountainous parts of the country
The China Development Bank (CDB) is a development bank in the People's Republic of China, led by a governor-level cabinet minister, under the direct jurisdiction of the State Council. As one of three policy banks in China, it is responsible for raising funds for large-scale infrastructure projects, including the Three Gorges Dam and the 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.
