TAJIKISTAN: Tajikistan needs Chinese loan to support SMEs, balance of payments

DUSHANBE (TCA) — Tajikistan needs a long-term loan from China to support Tajik small and medium-sized enterprises (SMEs) and the country’s balance of payments, Jamshed Nurmahmadzoda, the head of the National Bank of Tajikistan (NBT), said during his meeting on Monday with a delegation of the China Development Bank (CDB) led by the CDB Assistant Governor Zhao Xiaoyu, Avesta news agency reported citing the NBT press service.

During the talks, the sides discussed establishment of bilateral cooperation between the Tajik central bank and the CDB as well as attraction of Chinese long-term investments in Tajikistan.

The CDB Assistant Governor also met with Tajik President Emomali Rakhmon and discussed further expansion of cooperation between Tajikistan and the CDB.

The China Development Bank (CDB) is a financial institution in China led by a cabinet minister level Governor, under the direct supervision of the State Council of China.

In the meantime, the gold and forex reserves of the National Bank of Tajikistan grew more than $20 million in the first four months of this year, the Bank’s press service said.

As of 30 April 2015, the gold and forex reserves amounted to 3.151 billion somoni or US $503.52 million.

At the beginning of this year the National Bank said that its international reserves totaled around $481 million, including foreign exchange, securities, and 11 tons of gold.

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