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China allocates 600 million yuan to Kyrgyzstan

China intends to grant Kyrgyzstan 600 million yuan. Economy Minister of Kyrgyzstan, Oleg Pankratov, told journalists today.

According to him, the money will be used to build roads and transport junctions, laboratories to be able to export products from Kyrgyzstan to China. In addition, part of the funds is intended for archaeological excavations.

«Within the framework of the visit of the President of the Kyrgyz Republic to the People’s Republic of China, the parties talked about the construction of a railway and a factory for assembling electric vehicles. If we implement this agreement, we will be in the forefront of progress,» Oleg Pankratov explained.

He added that the volume of investment from China fell by 10 percent. Turnover amounted to $ 1.6 billion. «The trade balance is not in our favor. Our exports amounts to $ 100 million, the rest is imports from China. The PRC leader noted that he saw a tendency to a rise in domestic demand. He is ready to open a market for Kyrgyz goods,» said Oleg Pankratov.