Kazakhstan and China sign currency swap agreement.

By bne IntelliNews June 14, 2011
Kazakhstan and China signed a currency swap agreement. The deal is worth USD 1bn and is valid for 3 years. Significantly, it is the second such kind deal signed between China with Central Asia. The first one was signed with Uzbekistan in April but it is worth slightly over USD 100mn. Meanwhile, Export-Import Bank of China declared that it is willing to extend loans denominated in yuans to Kazakhstan. The country already showed interest in this kind of financial cooperation. Export-Import Bank of China already extended loans worth approximately USD 7bn to clients in Kazakhstan.

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