BISHKEK, Kyrgyzstan, May 25. Kyrgyzstan’s
state-owned Eldik Bank has signed a memorandum of understanding
with China’s Tencent within the framework of the Shaanxi Silk Road
Expo, becoming the first bank in Kyrgyzstan to conclude such an
agreement with the WeChat ecosystem, Trend reports via the bank.
The agreement is aimed at expanding digital financial
cooperation between Kyrgyzstan and China amid growing trade,
tourism, and cross-border transactions between the two
countries.
A key area of cooperation will be the integration of QR payment
systems between Eldik Bank and WeChat Pay. The initiative is
expected to enable users of the Eldik mobile application to pay for
goods and services in China, while WeChat Pay users will be able to
conduct payments in Kyrgyzstan.
The parties are also considering the development of cross-border
money transfers and settlements in national currencies, including
the Chinese yuan, in the context of increasing trade turnover
between the two countries.
According to the bank, cooperation with Tencent will provide
access to digital payment technologies and fintech expertise, while
also supporting the development of bilateral financial
infrastructure.
Representatives of Eldik Bank are currently participating in the
Shaanxi Silk Road Expo, where the bank is presenting its operations
and investment potential. During the visit, meetings were also held
with China Construction Bank to discuss financial solutions for
businesses operating between Kyrgyzstan and China.
The initiative comes as Kyrgyzstan and China continue to
strengthen economic connectivity, including through the
implementation of the China–Kyrgyzstan–Uzbekistan railway project,
which is expected to enhance regional transport and trade
links.
