The PRC will allocate 2.3 billion dollars for a term of 35 years
A recent agreement was signed for the financing of the construction of a railway connecting China, Kyrgyzstan, and Uzbekistan. The signing ceremony was attended by Bakyt Torobaev, Deputy Prime Minister and Minister of Water Resources, Agriculture, and Processing Industry, as reported by the government office.
This agreement was formalized between the joint project company "China-Kyrgyzstan-Uzbekistan Railway Company" and a syndicate of banks from China, which includes the Export-Import Bank and the China Development Bank.
The total cost of constructing the railway is 4.7 billion dollars. Of this amount, China will provide 2.3 billion dollars in the form of a 35-year loan to the project company. The repayment of this loan will be carried out directly by the company. The remaining 2.3 billion dollars will be contributed to the charter capital of the company by the three states, with China's share being 51%, while Kyrgyzstan and Uzbekistan will each receive 24.5%.
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