Belarusbank, China Development Bank discussing cooperation options in Silk Road Economic Belt

12 August 2015

MINSK (BelTA) – Belarusbank and China Development Bank (CDB) are considering ways to cooperate within the framework of the project Silk Road Economic Belt, Belarusbank's press service told BelTA after the bank's delegation took part in a seminar held to discuss financial support for real sector cooperation in the region of the Shanghai Cooperation Organization.

The source said that as a result of negotiations with China Development Bank an agreement was reached to arrange a seminar at Belarusbank premises for Belarusbank clients for the sake of highlighting cooperation opportunities within the framework of the project Silk Road Economic Belt.

The seminar to discuss financial support for real sector cooperation in the SCO region took place in Beijing and Suzhou (China). A delegation of representatives of Belarusbank and Belarusian business circles took part in the event. During the visit bilateral negotiations were held, including with the national insurance agency Sinosure (China Export and Credit Insurance Corporation). A tour of several corporations and enterprises was arranged. The Chinese side was represented by experts of Chinese government agencies, Asian Infrastructure Investment Bank, Silk Road Fund, representatives of middle and top-level management of members of the Interbank Association of the Shanghai Cooperation Organization.

Belarusbank Deputy Chairman of the Board Alexander Polivko made a presentation of the Belarusian bank during the seminar. He noted: “The experience of our Chinese colleagues and primarily China Development Bank, its approaches to supporting mechanical engineering and proposals to develop interaction between manufacturers and financial institutions in the SCO region are extremely interesting for us as well as the practice of financing domestic investment projects and support for small and medium enterprises.”

Evaluating participation in international seminars, the executive underlined that it is important for establishing and maintaining the international recognition of the bank. Such events also contribute to stronger business reputation and allow exchanging up-to-date information and establishing mutually beneficial contacts.

The Shanghai Cooperation Organization includes six countries: Russia, Kazakhstan, China, Kyrgyzstan, Tajikistan, and Uzbekistan. Belarus is an observer in the organization.

Ministry of Foreign Affairs of the Republic of Belarus