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23.09.2019

Belarusbank and CDB outlined perspective areas of cooperation

Belarusbank and China Development Bank are committed to widening the scope of bilateral cooperation and implementation of promising projects. These topics became the central focus of the meeting between the management of the largest Belarusian bank and a delegation from the Chinese bank headed by vice president Zhou Qingyu. During negotiations in the Head Office in Minsk the parties made particular emphasis on the search of new areas for sustainable development of the relationships between Belarus and China in the financial area.

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"Belarusbank has been actively working at the Chinese market for more than 10 years. This line of business has a strategic character. We are conducting comprehensive work aimed at improving and extending opportunities to organize external funding of the Belarusian economy, said the Chairman of the Board of Belarusbank Viktor Ananich. - I am happy to note that to us China Development Bank is not only an important lender, but also a partner at the Chinese market. Apart from the commercial aspect, our cooperation has long ago grew into a close friendly relationship".

During bilateral meetings the parties discussed the outcomes of a visit of the state delegation of the Republic of Belarus to PRC. The delegation took part in the forum of international cooperation "Belt and Way" in April this year. Management of Belarusbank also visited Beijing as part of the official delegation from our country.

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A number of agreements in the financial area were signed with the China Development Bank in the course of partnership. The largest of them is for attraction of an export loan in 2016 in the amount of USD 1.4 bln to finance the construction of a mining and processing complex for production of potassium fertilizers.

Due to close cooperation between the two parties Belarusbank has an opportunity to take part in topical workshops held by China Development Bank by the assignment of Interbank Association of Shanghai Cooperation Organization on an ongoing basis. These events represent a unique space for dialog regarding interbank cooperation.

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For reference:

China Development Bank was created in 1994 as a result of a reform of state and commercial banks. The bank was established to ensure modernization of country's social and economic development.

Bank's assets comprise USD 4.44 trillion. CDB has 37 branches in China, 10 representative offices. A representative office in Belarus was opened.

Communication Department

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