The EDB develops cooperation with Chinese banks

27 December 2018

Almaty, 27 December 2018. The Eurasian Development Bank (EDB) negotiated cooperation and the development of projects of mutual interest with Heihe Rural Commercial Bank, Heihe, China (HRCB). The meeting took place in Heihe, China. The EDB and HRCB discussed possible cooperation in arranging payments between HRCB’s clients and the EDB countries in national currencies, treasury transactions, and trade finance.

“Establishing and developing relationships with the SCO countries’ banks and China, in particular, is one of the EDB’s priorities as regards interbank cooperation,” Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the EDB, commented. “Cooperation with China’s regional banks that operate in the regions bordering the EDB countries is of particular interest to us as a potential source of new business prospects in the framework of the Bank’s mission and new strategy.”

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

Read more about the EDB at http://eabr.org/

Heihe Rural Commercial Bank, Heihe, China (HRCB) is a leading commercial bank in Heihe, Heilongjiang Province, that provides all types of corporate and retail banking services. HRCB was set up in 2011 as a result of the reorganisation of the Heihe agricultural credit partnership. The bank is headquartered in Heihe, Heilongjiang Province, and has 137 offices in the region.

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