Belarusbank, China Development Bank sign framework cooperation agreement

11 December 2012

MINSK (BelTA) – Belarusbank and the China Development Bank have signed a framework cooperation agreement, BelTA learnt from the press service of the Belarusian bank.

Beijing hosted a conference “Belarusbank: Reliable partner for Belarus-China cooperation”. The conference was timed to the 90th anniversary of the bank and the 5th anniversary of the bank’s office in Beijing. Taking part in the event were over 50 representatives of major Chinese banks and investment companies, the national insurance corporation Sinosure, as well as industrial corporations that implement investment projects in Belarus. The event was also attended by representatives of the Finance Ministry of Belarus, the National Bank of the Republic of Belarus, Belarusian Railways, Belarusian Cement Plant, Belarusian Potash Company and others.

A meeting with the top management of the China Development Bank was held during the conference. An interbank framework cooperation agreement was signed during the meeting. With the assistance of the Chinese bank Belarusbank became the first partner bank of the Interbank Association of Shanghai Cooperation Organization in June 2012. “The framework agreement will give an additional impetus to the development of mutually beneficial cooperation with one of the leaders of the financial market of China,” the Belarusbank press service said.

During the talks with the company CITIC Securities the parties discussed bridge financing for Belarusbank on the Asian capital market.

The Belarusbank delegation also held talks with China CAMC Engineering Co., Ltd. that builds the Belarusian-Chinese Industrial Park. The parties discussed financing options and schemes of the construction project.

Meetings were held with GRG Banking Equipment Co., Ltd. (Hong Kong). The Belarusbank delegation also visited China Guangfa Bank, one of the most technologically advanced Chinese banks which uses self-service based on cutting-edge technologies.

“The meetings with the business community of China will give a boost to the bilateral ties. We would like to note that at present Belarusbank is involved in virtually all areas of Belarus-China cooperation: raising Chinese funds to implement investment projects, servicing intergovernmental loans and humanitarian agreements, making payments, including in national currencies,” the press service informed.

Ministry of Foreign Affairs of the Republic of Belarus