DUSHANBE, Tajikistan, November 18. China's Development Bank (CDB) will provide a loan of 100 million yuan ($13 million) to Tajikistan's Amonatbank, a state saving bank, Trend reports.
The agreement was signed by Ikromi Sirojiddin, Chairman of the Board of Amonatbank, and Tan Jiong, the chairman of CDB.
The primary objective of this agreement is to facilitate microcredit provisions for the development of agriculture, small and medium-sized enterprises, introduction of methods and technologies for the production of imported goods and products in Tajikistan, as well as to encourage entrepreneurs who import of goods and products from China.
During the meeting, discussions revolved around bilateral interbank cooperation and the extension of collaboration across various sectors. It was emphasized that over 15 years of partnership between the banks, 10 agreements were signed, including 9 credit agreements totaling $81.5 million, 1 agreement focusing on bilateral cooperation development, and 1 memorandum concerning the retraining of Amonatbank's staff.
China stands as one of Tajikistan's key economic partners. So far, China's investment volume in Tajikistan amounted to $3.34 billion from 2007.
Tajikistan's National Bank recently said that future transactions with China will be performed in yuan. The bank cites growing trade turnover between the two countries as the reason for its decision.
The Ministry of Economic Development and Trade of Tajikistan also reported that by the end of 2023, the trade turnover between Tajikistan and China might increase by 10.4 percent compared to last year.
