CDB's loan balance to SCO countries approximates $50 bln
The latest data from the China Development Bank (CDB) showed that outstanding project loans to member states, observer states and dialogue partners of the Shanghai Cooperation Organization (SCO) amounted to 49.6 billion U.S. dollars by the end of March 2019.
Kyrgyzstan and Tajikistan have carried out cooperation in multiple sectors with the CDB.
The CDB's loans to Kyrgyzstan covered projects in sectors such as minerals, telecommunications, petrochemicals, agriculture and small and medium-sized enterprises (SMEs), with an outstanding balance of 350 million U.S. dollars by the end of 2018.
The CDB has issued loans to Tajikistan's projects in the sectors of telecommunications, cement, electricity, minerals, agriculture and SMEs, with an outstanding balance of 174 million U.S. dollars by the end of last year.
The 19th SCO Summit kicks off today in Bishkek, the capital of Kyrgyzstan.
The CDB is the world’s largest Chinese bank for financing cooperation, long-term lending and bond issuance. It was founded in 1994 as a policy financial institution under the direct leadership of the State Council.
The supportive activities that the CDB carried out for SCO countries have positively affected the development of the local society and economy, and the bilateral trade relations with China.