China Exim Bank: Loans to SCO Members Sustainable
    2012-06-07 09:13:01     CRIENGLISH.com         Web Editor: Mao

The Export-Import Bank of China is promising more financial support for members of the Shanghai Cooperation Organizaiton.

CRI's Wei Tong reports.

The Export-Import Bank of China, or China Eximbank, already provides preferential loans to the SCO member states, which include China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

Some, including the World Bank, have been casting their doubts as to whether the Eximbank's financing is going to be sustainable over the long-term.

However, Eximbank vice-governor Zhu Hongjie says his organization is much more optimistic.

"It will be sustainable as long as we continue to finance productive projects with high economic benefit and infrastructure projects key to economic development in developing countries including SCO members. Moreover, the bank has lower rate of non-performing foreign-related loans since its general rate of non-performing loans only stays at 0.6%."

China Eximbank has already issued 13.6 billion US dollars in loans to SCO member countries, which is financing over 70 projects.

Most of those loans have gone to areas such as communications, transport, electricity network innovation, water conservancy, agricultural and energy.

Zhu Hongjie says China Eximbank is continuing its support of the countries in the SCO.

"We have just signed deals including a 1.2-billion-US dollar highway project with Tajikistan and a 390-million-US dollar project with Kyrgyzstan related to power transmission. This afternoon, we will sign another power transmission project deal with Uzbekistan."

Zhu Hongjie also says China Eximbank is going to try to streamline its own operations.

"In the aspect of cooperation, we are very harmonious. But some institutions perform low efficiency in the project implementation. For ourselves, we should improve our financial service capacity and enhance working efficiency."

Zhu Hongjie says the bank is also trying to promote more joint financing with other financial instutions in SCO member countries.

For CRI, I am Wei Tong.

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