Chinese policy bank sets up 10 bln yuan of special loan for China-Central Asia cooperation

This photo taken on May 15, 2023 shows a board displaying the information of the China-Central Asia Summit in Xi'an, northwest China's Shaanxi Province. (Xinhua/Zhang Bowen)

China Development Bank, one of the country's policy banks, has recently set up a special loan of 10 billion yuan to support projects between China and Central Asian countries, aiming to deepen China-Central Asia cooperation, reported Chinanews.com.

The loan is expected to be used in the fields including economy and trade, investment, transportation, agriculture, energy and resources, and infrastructure.

During the China-Central Asia Summit recently held in the northwestern Chinese city of Xi'an, the China Development Bank signed two loan agreements and two cooperation documents with the Development Bank of Kazakhstan, the National Bank for Foreign Economic Activity of the Republic of Uzbekistan and the State Savings Bank of Tajikistan, respectively, covering projects involving small and medium-sized enterprises (SMEs), agriculture, production capacity cooperation and people's livelihood.

By the end of 2022, the policy bank had supported 134 projects in the five Central Asian countries in fields including energy and resources, infrastructure, transportation, and etc.

At the same time, the policy bank has also carried out sub-loan cooperation with financial institutions in Central Asia, supporting agricultural and SMEs projects with good economic and social benefits in Kyrgyzstan, Tajikistan, Uzbekistan and other countries, and actively helping improve people's well-being in these countries.