By Tristan Kenderdine

April 16, 2018, the CACI Analyst

Following high-profile visits by Premier Li Keqiang in 2015 and Xi Jinping in 2016, China’s is domestically devolving its trade and industrial relationship with Uzbekistan to provincial and prefectural levels of government. However, financing for China’s investment in Uzbekistan remains either directly invested or indirectly coordinated by one of China’s three central policy banks, Export-Import Bank of China, China Development Bank, and the Agricultural Development Bank of China. Since 2014, the Exim Bank has committed to fund Belt and Road projects worth around US$ 120 billion, which corresponds to nearly a full year’s GDP for Uzbekistan. These quasi-sovereign wealth funds certainly pose a systemic debt risk, but are not necessarily a debt-trap.

  

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Published in Analytical Articles

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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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