Kyrgyzstan must pay down $ 320 million debt to China in five years. The deputy Akylbek Japarov informed about it at the meeting of the parliamentary committee on budget and finance.
He noted that the interests of the country were not protected when drafting an agreement with the Export-Import Bank of China.
Terms of repayment of loans are very short. The reason is that the Minister of Transport and others travel to China. Only when signing the document, they involve the Minister of Finance. The agreements note that the disputes will be considered only in the arbitration court in Hong Kong and all the points will be interpreted only in accordance with the laws of the PRC.
Akylbek Japarov
He noted that in the coming years $ 300 million would be spent on servicing the external debt.
According to the Ministry of Finance, the terms of payment of Chinese loans — from 5 to 25 years. The total amount of debt is $ 1,711.48 billion.
