Chi­nese bank to ex­pand into Greek projects

Kathimerini English - - Focus -

Fol­low­ing a meet­ing yes­ter­day in Athens with China De­vel­op­ment Bank chair­man Hu Huaibang, Bank of Greece Gov­er­nor Yan­nis Stournaras ex­pressed sat­is­fac­tion with CDB’s in­ten­tion to ex­pand its pres­ence in Greece, mainly via the fi­nanc­ing of in­fra­struc­ture projects.

The meet­ing fol­lowed the sign­ing of a mem­o­ran­dum of un­der­stand­ing between Greece’s cen­tral bank and CDB last July. The MoU pro­vides for the pro­mo­tion of bi­lat­eral re­la­tions and eco­nomic and trade co­op­er­a­tion between China and Greece.

Hu noted that CDB – one of the world’s big­gest de­vel­op­ment lenders – sees Europe and its ex­pan­sion to in­ter­na­tional mar­kets as pri­or­i­ties, adding that it has cre­ated spe­cial funds for the fi­nanc­ing of en­ter­prises in sev­eral Euro­pean coun­tries in­clud­ing Greece.

Dur­ing the meet­ing the CDB chief also noted that the Chi­nese lender in­tends to ex­pand its pres­ence in Greece through co­op­er­a­tion with Greek banks.

In a state­ment, BoG high­lighted that this year marks 45 years since Greece and China launched diplo­matic re­la­tions.

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