China's Development Bank Provides 1 Billion Yuan Loan to Kyrgyzstan's Eldik Bank
The state-owned Eldik Bank of Kyrgyzstan has signed a loan agreement worth 1 billion yuan (approximately 147 million USD) with China's Development Bank, aimed at financing key projects and deepening economic cooperation between Bishkek and Beijing.
The agreement was signed on July 2 by Ulanbek Nogaev, Chairman of Eldik Bank, and Tan Jiong, President of the China Development Bank.
According to Eldik Bank, the funds will support various small and medium-sized enterprises in infrastructure, green energy, industry, agriculture, and other priority sectors. The bank stated that this financing will enable Kyrgyz entrepreneurs to access long-term capital, facilitating production modernization and investment in projects that generate employment opportunities.
Both parties also plan to sign a supplementary agreement providing an additional 700 million yuan to Eldik Leasing, a subsidiary of Eldik Bank, and Sky Mobile Company, with these two subsidiaries responsible for managing specific projects under the financing framework.
Eldik Bank emphasized that the agreement reflects mutual trust between the two financial institutions and their shared commitment to expanding financial and investment ties.
Nogaev said: "Our partnership with the China Development Bank has successfully evolved over more than two decades, making significant contributions to supporting Kyrgyzstan’s economy. This new agreement creates greater opportunities for financing key projects and will further strengthen economic ties between Kyrgyzstan and China."
The signing ceremony took place during the 22nd Meeting of the Council of the Shanghai Cooperation Organization (SCO) Bank Consortium held in Cholpon-Ata, Kyrgyzstan; Eldik Bank currently serves as the rotating chair of the consortium.
Delegations from member banks of Belarus, China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan attended the meeting. Participants discussed expanding interbank cooperation, joint investment projects, and sustainable finance initiatives within the SCO framework.
China remains one of Kyrgyzstan’s largest external creditors. In late June, Kyrgyzstan’s parliament approved another preferential loan agreement with China Eximbank, intended to cover part of the country’s contribution to the construction of the China–Kyrgyzstan–Uzbekistan Railway—among the largest transportation infrastructure projects in Central Asia. As of January 31, 2026, Kyrgyzstan’s debt to China Eximbank is estimated at around 1.5 billion USD.
Source: Central Asia Times
Author: Sergey Guan
Original article: toutiao.com/article/1869764735288330/
Disclaimer: The views expressed in this article are those of the author alone.