BISHKEK, Kyrgyzstan, December 8. The Kyrgyz "RSK Bank" has signed an agreement with the Bank of China that allows it to undertake financial operations in Chinese yuan and open correspondent accounts in Chinese banks, said Minister of Economy and Commerce of Kyrgyzstan Daniyar Amangeldiev, Trend reports.
According to the ministry, he discussed this with Cai Xuejun, President of the Silk Road Fund.
The Silk Road Fund, according to the minister, is a development and investment fund targeted at facilitating the excellent development of the Belt and Road Initiative. Kyrgyzstan is eager to collaborate on this project.
During the meeting, the president of the Fund stressed Kyrgyzstan's critical position in the Belt and Road Initiative. The Fund places a high value on strengthening ties with the country.
He mentioned that several initiatives have already been implemented, notably a meeting in July this year in Bishkek, involving representatives from the Kyrgyzstan financial sector, where presentations were made about their activities and proposals for collaboration directions with the Silk Road Fund to finance investment projects in Kyrgyzstan.
He pointed out that both sides are engaged in negotiations and actively discussing the feasible option of establishing the Kyrgyz-Chinese Development Fund, promoting mutually beneficial cooperation in financing projects.