Between the Gobi Desert and the mountains in Central Asia, some changes are happening. Tower cranes rotate on railway construction sites west of Kashgar, electric buses run on the streets of Tashkent, and photovoltaic panels are connected on the sandy land of Bukhara. Behind these scenes, there is the same financing party and a cooperative path from channels to people's livelihoods.

First, repair the road before discussing business

The China Kyrgyzstan Uzbekistan Railway is a landmark project of jointly building the the Belt and Road personally promoted by the three heads of state. It starts from Kashgar, Xinjiang in the east, enters Kyrgyzstan through Turgat Port and connects to the Central Asian railway network. The total length of the section in Kyrgyzstan is about 306 kilometers, and the whole line will be started in June 2026. As the leading financing bank, the Export Import Bank provides financial support for engineering construction. In August 2026, the main structure of the lower part of the Shaoerbulaksai River Grand Bridge project has been completed.

After the railway is built, the freight distance between China and Europe can be shortened by about 900 kilometers, the transportation time can be reduced by 7 to 10 days, and the transportation cost can be reduced by about 30%. The new channel will also enhance the transit transportation capacity of countries along the route such as Kyrgyzstan and Uzbekistan, drive the development of warehousing logistics and industries along the route, reduce the cost of raw material procurement and product export for local enterprises, and create more employment and income opportunities for residents.

In addition to major projects, a batch of small and beautiful projects are also closely related to daily life. In Uzbekistan, Tashkent purchases 200 electric buses and 100 charging facilities to integrate clean energy into urban public transportation; In Kazakhstan, the Aktau supply chain base and overseas warehouse project have improved warehousing and transit services, facilitating cross-border trade and freeing up space for assembly and packaging businesses as well as local employment.

Green electricity comes from the river and sunlight

Between the mountains of Uzbekistan, hydroelectric power plants are changing the electricity conditions for local residents. The Export Import Bank has successively supported the construction and renovation of 14 small and medium-sized hydropower stations in Ukraine, converting flowing river water into clean electricity, reducing dependence on fossil fuels, and promoting regional energy structure optimization.

On the Gobi Desert in Bukhara and Kashkadarya provinces, continuous photovoltaic panels are turning sunlight into green electricity. This is the largest photovoltaic project invested and constructed by Chinese enterprises in Central Asia after the first China Central Asia Summit. It will achieve full capacity grid connection in June 2024, with an average annual power generation of about 2.4 billion kilowatt hours after operation, reducing carbon dioxide emissions by about 2.4 million tons per year, and meeting the electricity needs of 4 million residents.

Money should follow the project cycle

The large investment scale, long construction period, and slow capital recovery of infrastructure and industrial projects directly determine whether the projects can be implemented and operated in the long term by obtaining stable and sustainable financing. The Export Import Bank leverages its comprehensive advantages in medium and long-term credit, equity investment, and international economic cooperation to provide a package of financial support for project construction.

The Kamchik Tunnel of the Angren Papu Railway crosses through steep mountains and is extremely difficult to construct. Long term stable financial support lays a solid foundation for the project. After the tunnel is put into use, trains can pass through the mountains in about 15 minutes, significantly improving the conditions for public travel and cargo transportation. As the main initiator, CEXIM has established the China Eurasia Economic Cooperation Fund. By 2025, the second phase of the fund with a scale of 1 billion US dollars and its subsidiary, the China Central Asia Equity Investment Cooperation Fund with a scale of 500 million US dollars, will officially operate to promote the landing of a number of key projects in the fields of clean energy, advanced manufacturing, and people's livelihood. The bank has also conducted parallel financing cooperation with the Asian Development Bank and the Islamic Development Bank, assisting Kazakhstan in issuing sovereign panda bonds, expanding financing channels, and also expanding the use of RMB in cross-border investment and financing. Key words: policy finance, Central Asia regional economic cooperation, green co construction of the the Belt and Road

Taking the Tianshan Forum for Central Asian Economic Cooperation as an opportunity, CEXIM will continue to give play to its policy based financial advantages, deepen practical cooperation with partners in the Central Asian regional economic cooperation area, and explore new space in connectivity, green industries, and livelihood projects, so as to contribute to the high-quality construction of the the Belt and Road between China and Central Asia and the construction of a community with a shared future in the surrounding areas.Editor/Min Jing