President of Kyrgyzstan Sadyr Japarov, in an interview with Kabar news agency, told how the investments of the participating countries in the project on the construction of China-Uzbekistan-Kyrgyzstan railway will be distributed and how this will affect Kyrgyzstan’s external debt.
According to the head of state, this project does not relate to external debt. It’s commercial.
«Three countries united and created a joint company. The office is located in Bishkek. The General Director was appointed from the Kyrgyz side. Two deputies were appointed from China and Uzbekistan. All funds pass through Bishkek. Thus, until the completion of the railway, all costs will be under our control and the participating countries. China invests 51 percent of the funds, the Kyrgyz and Uzbek sides — 24.5 percent each. According to international standards, after the investment is repaid, the two parties will withdraw from the project and 100 percent will remain with us,» he said.
We need this highway first and foremost. We will establish a transit corridor through Central Asia between Europe and other countries, including China. This is economically beneficial and provides geopolitical stability.
Sadyr Japarov
Deputies of the Parliament ratified an agreement between the government of the People’s Republic of China, the Cabinet of Ministers of the Kyrgyz Republic and the government of Uzbekistan on cooperation in joint promotion of China-Kyrgyzstan-Uzbekistan railway project.
