Kyrgyzstan owes 30 percent of its GDP to China

11:04, 26 октября 2019, Bishkek - 24.kg news agency , Darya PODOLSKAYA

Kyrgyzstan owes about 30 percent of its GDP to China, only Djibouti, Maldives, Congo and Tonga have a larger share. Russian media report, citing data of a study by the Institute of World Economy.

 Beijing lends to Bishkek in exchange for participation in large projects, mainly in the energy sector, including: modernization of Bishkek Heating and Power Plant (carried out by the Chinese company TBEA for $ 386 million, allocated by the Export-Import Bank of China), construction of substations Datka and Kemin and power lines between them for $ 400 million, an oil refinery in Kara-Balta with a capacity of 800,000 tons of oil per year (estimated at $ 250 million). A number of Chinese companies are also involved in the development of gold deposits, which is opposed by local residents.

The annual turnover between the countries is about $ 2 billion, $ 1.9 billion of which is Chinese exports to the Kyrgyz Republic. China also provides various grants, in particular for road repairs, archaeological excavations, and even for the development of the army ($ 14 million in 2017). A number of educational institutions were opened at the expense of Chinese funds.

So, a school with in-depth study of the Chinese language began to work in Bishkek in 2017, the Kyrgyz-Chinese New Silk Road University is working, and a branch of the Chinese North-West University was opened in Kara-Balta. According to official data, 35,000 citizens of the PRC arrived in the Kyrgyz Republic in 2018, according to unofficial figures — several times more. At the beginning of 2019, a number of anti-Chinese rallies took place in Bishkek, several dozen people were detained.

For comparison, Tajikistan is the second largest debtor in Central Asia. It owes China about $ 1.2 billion — almost a half of its external debt.

The priorities of China in the country are energy and mining sectors. In 2018, Chinese TBEA received a license from Tajikistan for development of the Upper Kumarg gold mine.