Eldik Bank and China Development Bank Sign a CNY 1 Billion Loan Agreement
As part of the activities of the Interbank Consortium of the Shanghai Cooperation Organization (SCO IBC), Eldik Bank OJSC and the China Development Bank (CDB) have signed another loan agreement worth CNY 1 billion. The agreement is aimed at supporting strategically important projects and further expanding economic cooperation between the Kyrgyz Republic and the People’s Republic of China.
The signing ceremony was attended by Ulanbek Nogaev, Chairman of the Management Board of Eldik Bank OJSC, and Tan Jiong, President of the China Development Bank.
Over the years of cooperation between the two financial institutions, effective mechanisms have been established to support economic development, promote entrepreneurship, and attract investment. The new credit facility will expand financing opportunities for priority sectors and the implementation of large-scale development projects.
The funds raised will be used to finance small and medium-sized enterprises (SMEs) in infrastructure, green energy, industry, agriculture, and other investment sectors. Of particular importance is that domestic entrepreneurs will gain access to long-term financial resources needed to modernize production, implement major investment projects, and create new jobs.
In addition, the parties plan to sign an agreement for the allocation of CNY 700 million to finance the Bank’s subsidiaries, Eldik Leasing and Sky Mobile, which will be responsible for implementing projects under this financing framework.
The signing of the agreement reflects the high level of mutual trust between Eldik Bank OJSC and the China Development Bank, as well as both parties’ commitment to further strengthening financial and investment cooperation.
“Our partnership with the China Development Bank has been developing successfully for more than twenty years and has made a significant contribution to supporting Kyrgyzstan’s economy. This new agreement creates additional opportunities for financing priority projects and will further strengthen the economic ties between Kyrgyzstan and China,” said Ulanbek Nogaev, Chairman of the Management Board of Eldik Bank OJSC.
