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China seals over US$3b in energy credits
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China yesterday agreed credits worth more than US$3 billion for energy projects in Kyrgyzstan, during a visit by President Xi Jinping.
Xi held talks with Kyrgyz President Almazbek Atambayev on the last leg of a major regional tour that has already taken him to Turkmenistan, Kazakhstan and Uzbekistan.
“According to the agreements reached during President Xi’s state visit to Kyrgyzstan, China will disburse over US$3 billion in credits for Kyrgyz projects,” Economy Minister Temir Sariyev said.
He said US$1.4 billion of credits will go on a 225-kilometer Kyrgyzstan-China gas pipeline which will pump gas originating from energy-rich Turkmenistan to the Chinese city of Kashgar.
The rest of the credits will go on rebuilding a power plant in Bishkek, constructing a new motorway and expanding an oil refinery, he added.
Atambayev also said Kyrgyzstan supported a Chinese initiative to create a joint economic zone based along the route of the fabled historic Silk Road trade route.
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