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China Dev't Bank signs MOU with Inter-American Dev't Bank

Published: 31 Mar 2009 17:28:02 PST

Apr. 1, 2009 (China Knowledge) - China Development Bank (CDB), which was recently converted from a policy lender into a stockholding commercial bank, yesterday signed a memorandum of understanding (MOU) with Inter-American Development Bank (IDB), the official Xinhua News Agency reported.

Liu Kegu, Vice-Governor of the China Development Bank, and Luis Alberto Moreno, President of IDB, attended the signing ceremony.

Liu said IDB has provided a project list worth more than US$30 billion to CDB. CDB will consider investing in projects related to energy, transportation, urban infrastructure, livelihood and agriculture, added Liu.

The two sides will conduct mutual financing to invest in those projects.

CDB has already provided US$8 billion in financing for Latin American nations. It has engaged in financial cooperation with Venezuela, Brazil, Chile, Peru, Argentina, Mexico and Costa Rica.

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