Bishkek, March 16, 2021. / Kabar /. President of Kyrgyzstan Sadyr Zhaparov named objects, which the country may lose in case of non-payment of foreign debt to the Exim Bank of China.
In an interview with Azattyk radio, the head of state said the country's foreign debt is repaid under the same system as a regular loan to the bank. That is, a bank and a borrower sign an agreement, and if the borrower is unable to make payments a loan on time, the bank takes his house or other property that is pledged.
"External debt is the same. For example, the thermal power station, the North-South highway and the Datka-Kemin power transmission line may be transferred to the Chinese side. We took money for them. If we do not pay on time, the control over these facilities can be transferred to the other side. If this is not enough, they have the right to take other ones,” President Zhaparov said.
The president noted such an agreement was signed by the former power.
"Conditions could be more milder. We make timely payments for these facilities. By Dec. 31, 2020 we had to pay $30 million. We have paid, sources were found. This year, I believe that we will pay, we have sources of funding,” the head of state noted.
The amount of Kyrgyzstan’s foreign debt is $4 billion 218.38 million. Of these, $1 billion 800 million is owed to the Export-Import Bank of China.
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