Tajik Leader, China EximBank Chief Mull Joint Investment Projects

Excerpt from report by Tajik Avesta website on 21 August

Dushanbe, 21 August: The practical implementation of three economic projects financed by China’s EximBank has been discussed during a meeting between Tajik President Emomali Rahmon and EximBank President Li Ruogu.

After the meeting, Ruogu told the press that the sides discussed the implementation of projects on the construction of the South- North and Lolazor-Khatlon high-voltage power transmission lines and on the reconstruction of the Dushanbe-Chanok motorway. These projects are being funded by the Shanghai Cooperation Organization (SCO) as part of the implementation of its investment projects.

“In 2006, within the SCO, China allocated 900m dollars, of which 600m is earmarked for the implementation of investment projects in Tajikistan,” the EximBank president said. “At the latest SCO summit in Bishkek, China offered a preferential credit to SCO member states. The sum of the credit is still unknown. EximBank will issue a credit only if its volume is agreed at the government level, because the bank is a state-run financial structure belonging to China.”

Asked about the reasons behind a delay in the funding of the Zarafshon hydroelectric power station [northern Tajikistan], Lee Ruogu said that “they have not officially applied for financing the project to build a hydroelectric power station on the River Zarafshon. Currently, EximBank is not planning to finance the construction of any hydroelectric power station [quotation marks as received].”

Ruogu said President Rahmon proposed that EximBank participate in the implementation of investment projects in the fields of coal extraction, energy and the light industry which would be considered by bank specialists. [Passage omitted: China allocated some 636m dollars for the implementation of the three projects in Tajikistan - known facts]

Originally published by Avesta website, Dushanbe, in Russian 0940 21 Aug 07.

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