New Kyrgyz-Chinese Development Fund on the Horizon
Kyrgyz Economy Minister Discusses Cooperation with Silk Road Fund President in Beijing
The Minister of Economy and Commerce of Kyrgyzstan, Daniyar Amangeldiev, recently met with the President of the Silk Road Fund, Cai Xuejun, in Beijing, China. The purpose of their meeting was to discuss potential avenues for cooperation between the two entities.
During the meeting, Minister Daniyar Amangeldiev announced that an agreement between RSK Bank and Bank of China has already been concluded. This agreement will allow RSK Bank to conduct operations in Chinese yuan and open correspondent accounts in Chinese banks, opening up new opportunities for financial collaboration between Kyrgyzstan and China.
President Cai Xuejun expressed interest in further collaboration by suggesting the creation of a Kyrgyz-Chinese Development Fund. This fund would serve as a platform for joint investment and development projects between the two countries.
Furthermore, Cai Xuejun proposed the possibility of lending from the China Development Bank and the Export—Import Bank of China. He also mentioned that the Silk Road Fund has signed a Memorandum of Understanding and cooperation with representatives of Uzbekistan, and he proposed a similar model of cooperation for Kyrgyzstan. The Chinese side expressed readiness to send the draft memorandum to Kyrgyzstan for comprehensive consideration and study.
The discussions between Minister Daniyar Amangeldiev and President Cai Xuejun underscore the growing potential for economic and financial cooperation between Kyrgyzstan and China. The implementation of these agreements and the establishment of the Kyrgyz-Chinese Development Fund could pave the way for mutually beneficial projects and initiatives in the future.
