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CHINA> National
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China Eximbank, ADB sign co-financing agreement
(Xinhua)
Updated: 2009-05-04 18:09 BALI - The Export-Import Bank of China (China Eximbank) on Monday inked an agreement with the Asian Development Bank (ADB) to jointly prepare at least US$3 billion for projects in developing Asia, especially in terms of infrastructure. The agreement, signed at the 42nd ADB annual meeting in Bali, will become effective since this June and be utilized over three years.
"This agreement with China Eximbank will ensure funds get systematically directed towards those and other urgent projects that will help the region weather the current global downturn," she added. According to ADB, Asia will need US$4.7 trillion between 2006 and 2015 if it is to meet its developmental potential. |
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