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19-12-2014, 11:21

Tajikistan, China discuss 10 mln USD loan agreement

Avesta.Tj | 19.12.2014 | The Deputy Chairman of Amonatbonk (Tajikistan’s savings bank) Sirojiddin Ikromov and the representatives of China Development Bank (CDB) met here on Thursday to discuss a 10 million U.S. dollars loan agreement, Amonatbonk press service said Friday.

According to the five-year loan deal, CDB will finance Tajikistan's agriculture, small and medium enterprises.

The document will be signed by the Amonatbonk Chairman Jamshed Nurmahmadzoda.

Tajikistan’s Amonatbonk and  China Development Bank have cooperated since 2008.

Established in 1994, the China Development Bank (CDB) is a financial institution led by a cabinet minister level Governor, under the direct jurisdiction of the State Council. It is primarily responsible for raising funding for large infrastructure projects. The bank is described as the engine that powers the national government’s economic development policies.

Established in 1925, Amonatbonk is the only state-owned and one of the oldest bank in Tajikistan. It is one of the largest based upon various criteria - including the number of branches and the number of served clients.  The institution is unique in its orientation towards implementing social, pension and other state programs.  Amonatbonk has 5 regional centers, 69 branches and nearly 500 agencies. This gives the institution a presence in the most remote mountainous parts of the country.