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July 6 2017

Gazprombank and China Development Bank Signed a Financial Cooperation Agreement

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Gazprombank and China Development Bank (CDB) have signed a financial cooperation agreement. The document was signed by the Chairman of the Gazprombank’s Management Board Andrey Akimov and the Chairman of the Board of CDB Hu Huaibang.
The parties agreed to continue cooperation aiming to facilitate CDB’s origination of long-term funding to Gazprombank, which will channel it to support the implementation of the strategic Russian-Chinese intergovernmental initiatives, the growth of trade turnover between the two countries as well as development of local markets and lifting of infrastructural barriers in Russia and China as well as in other territories of their mutual interests.
The parties have noted that the agreement opens a new page in the history of longstanding cooperation between CDB and Gazprombank. The parties’ joint efforts will definitely give impetus to the development of selective industries of Russian and Chinese economies and will be among the factors supporting growth of Russian-Chinese trading volumes.
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