China-Russia - The People's Bank of China and the Central Bank of the Russian Federation have signed a revised bilateral currency settlement agreement. According to the revised agreement, individuals and corporations from both countries will be able to conduct settlements and payments using the yuan, the ruble and freely convertible currencies. In addition to border trade, ordinary trade may also be settled in both countries' official currencies.
U.S., British and French calls for the release of a U.N. report detailing Iran's alleged sanctions violations failed to move Russia and China on Thursday, which stressed the need for "reliable information."
China-Kyrgyzstan - China will provide a $208 million loan for southern Kyrgyzstan to modernize its power lines. China’s Export-Import Bank (China Eximbank) will provide the loan. The $208 million credit will upgrade power lines in south Kyrgyzstan by building power stations and reconstructing existing stations. The loan will build a 500 kiloVolt (kV) station in Datka, in the Jalalabad province. Existing power stations Crystal, October, Nodal and Alai will be refurbished. New power lines will also be implemented, with 160 miles of new transmission lines carrying 220 kV of power to be launched as part of the project. The loan will have a grace period of seven years, and holds a 2 percent interest rate. China’s Eximbank has also contributed financing for two transportation projects, including the Bishkek-Torugart road under construction.
China's ethnic Kyrgyz community has agreed to assist farmers in southern Kyrgyzstan's Osh region, RFE/RL's Kyrgyz Service reports. Officials in the Kyzylsu-Kyrgyz Autonomous Prefecture in northwestern China's Xinjiang-Uyghur Autonomous region agreed on June 19 to help farmers construct a chain of vegetable greenhouses in the Osh region. The governor of China's Kyzylsu-Kyrgyz Prefecture, Parkhat Turdu, told RFE/RL that the agreement was reached in talks in Osh between Osh Oblast officials and ethnic Kyrgyz officials and businessmen from Xinjiang.
Kazakhstan-Kyrgyzstan - KazTranzGas, the Kazakh state company that oversees the transportation of gas, will invest $12 million into the Kyrgyz gas sector to ensure gas deliveries to southern Kazakhstan, the company’s chief said in a Friday press conference in Kyrgyz capital Bishkek. The $12 million will go towards repairing equipment and hardware on the Kyrgyz gas transport pipelines, KazTranzGas Director General Daniyar Berlibayev said. Berlibayev is in Kyrgyzstan as part of a Kazakh delegation, which includes top-level managers from the Kazakh national welfare fund Samruk-Kazyna. During this trip, the two sides resolved to establish a joint investment fund with $100 million in capital, while Samruk-Kazyna expressed interest in investing in the Kyrgyz power sector.
Articles referred to in this post:
"Россия и Китай будут вести внешнеторговые расчеты в рублях и юанях"(Russia and China will conduct foreign trade payments in rubles and yuan)
"Россия и КНР запретили публикацию «политизированного» доклада против Ирана" (Russia and China prevented the publication of "politicized" report on Iran)
"Китай поможет Кыргызстану построить ЛЭП Датка-Кемин" (China will help build a power line in Datka Kyrgyzstan)
"Китайские кыргызы помогут открыть парники в Оше" (China's Ethnic Kyrgyz To Aid Farmers In Southern Kyrgyzstan)
"Данияр Берлибаев: В газовую отрасль Кыргызстана будет инвестировано $12 миллионов" (KazTranzGas to invest $12M in Kyrgyz gas sector)
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