On initiative and by invitation of the State Savings Bank of Republic of Tajikistan “Amonatbonk” on September 6-10, 2009 the delegation of the China Development Bank will visit Tajikistan for participation in the seminar on “Preventing the consequences of the world financial crisis and cooperation of International Financial Institutions” which is planned to be held within the framework of Intergovernmental Programs of the Inter-Bank Consortium of Shanghais Cooperation Organization (IBC, SCO). The SSB RT “Amonatbonk” represents Republic of Tajikistan in IBC, SCO. The Inter-Bank Consortium of Shanghais Cooperation Organization was founded on October 26, 2005 for giving support and providing banking services to the projects presented within the framework of SCO. The following banks are the members of this Association: State Development Bank of China, Bank of Kazakhstan Development JSC, RSK Bank OJSC of Kyrgyz Republic, Bank of Development and Foreign Economic Affairs State Corporation (Vnesheconombank), State Savings Bank of the Republic of Tajikistan “Amonatbonk”, and National Bank for Foreign Economic Activity of the Republic of Uzbekistan.
The China Development Bank is the largest policy bank in China. It started its operation since 1994. Its main function in China is to finance large infrastructure projects of the country. By the end of 2008, the total assets of CDB have reached over 3000 billion RMB (approximately 440 billion US dollars).
The China Development Bank started its operation in Tajikistan since 2005. CDB is the only Chinese bank that has its staff based in Dushanbe. Since 2005, CDB has already granted 7 credit facilities to Tajik projects with total commitment amount over 120 million US dollars. These credit facilities cover the sectors of mobile communication, agriculture development, and small and medium size business.
Within the framework of Banking Association of Shanghai Cooperation Organization, CDB granted two credit facilities to NBT and two Currency Swaps to NBT with total amount of 35 million US dollars. CDB also granted 5 million US dollars to Amonathbonk after it replaced NBT as the member of Banking Association of SCO. All these credits focus on agriculture sector which is one of the most important economic sectors and it benefited over 5000 farmers or farming organizations.
The focus of CDB’s business in Tajikistan is still infrastructure projects which include road construction, railway innovation, energy construction and mining. CDB also focus on supporting Chinese companies to make more investment into Tajikistan by providing them with necessary funds. Currently, together with our partner within the Banking Association of SCO, CDB is actively looking for good projects in Tajikistan.
Besides providing credits to Tajikistan, CDB has also made a lot of efforts in sharing the experience and knowledge of China’s economic development with our Tajikistan friends. Since 2005, CDB has organized over 10 seminars both in China and Tajikistan, covering the topic of agriculture development, capital market development, micro-finance, senior policy making, etc. The participants came from ministries of the government, commercial banks and central banks, Tajikistan companies.
CDB also provide scholarship to support staff from our partners to take Master’s degree studying in China. Up to now, we have supported 4 members of staff to study in China and all scholarship comes from CDB’s scholarship funds.
China is a friendly neighbour to Tajikistan and CDB as one of the largest banks in China is also will to do its best to support the economic development of Tajikistan and to promote the mutual investment and trade relationship between two countries.
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SSB RT “Amonatbonk”
