Senior managers of the Export-Import Bank of China and the World Bank came
together Monday in Washington to sign a Memorandum of Understanding
aimed at building collaboration between the two organizations for
development, with a particular focus on Africa.
Mr. Li Ruogu, Chairman and President of Eximbank and Mr. Juan
Jose Daboub, Managing Director of the World Bank, signed the
Memorandum of Understanding that is designed to facilitate deepened
cooperation.
Established in 1994 Eximbank is China's state policy bank for
international economic development and cooperation. It serves as a
key channel of financing for exports, overseas construction
contracts and overseas investment projects and is the only arm for
concessional on-lending.
Over the past year, the World Bank has established a strong
working partnership with Eximbank. This has included a series of
workshops, seminars and training events on a variety of topics,
including fiduciary and financial management, procurement,
environmental safeguard analysis and social impact
analyses.?
"This signing represents an important step forward in our joint
cooperation supporting improved development results for the poor
and vulnerable, especially in Africa," said Mr. Daboub who has just
completed an eight-day official visit to China. "This collaboration
draws on the complementary strengths of each organization –
notably, China's development experience and the World Bank's
expertise in analysis and capacity building."
Over 400 million people have left the ranks of the extreme poor
in China over the past 20 years. China is well placed to share its
successful experience with other developing nations.
"The solution to all kinds of development challenges is to have
economically sustainable growth," said Mr Li Ruogu. "We welcome
this Memorandum of Understanding and the opportunities for
collaboration towards this end that it represents."
(China.org.cn May 22, 2007)