On January 12th, a ceremony was held to sign a framework agreement between the Chairman of the Board of Kyrgyzstan’s state-run RSK Bank, Ulanbek Nogaev, and the President of China National Heavy Machinery Corporation, Xiao Ping. As part of the partnership, RSK Bank and China National Heavy Machinery Corporation (CHMC) will begin supplying equipment and machinery for small and medium-sized businesses in Kyrgyzstan worth a total of $15 million, RSK Bank said. The bank will then lease this equipment to local entrepreneurs.
Xiao Ping emphasized that the signing of the agreement between CHMC and RSK Bank will be a boon for the development of the economy in the Kyrgyz Republic. Ulanbek Nogaev, meanwhile, stated that this agreement is strategically important, and will enable the bank to provide small and medium-sized businesses with special equipment without intermediaries, which will mean a significant price reduction.
China National Heavy Machinery Corporation specializes in the production of road construction and agricultural machinery, commercial vehicles, and industrial equipment.
