| CDB Delegation to Pakistan soon setting up its banking branch |
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| Monday,July 10,2006 Posted: 14:02 BJT(0602 GMT) The Commercial Office |
BEIJING: China Development Bank (CDB) will set up its representative office in Pakistan this year.
It will be the first Chinese financial institution making its presence in Pakistan to help providing medium and long-term loans for development projects. In this connection, a three-member team to be led by its Division Chief Cai Tinniu will visit Pakistan this month to make necessary arrangements.
The bank’s representative office is proposed to be set up in Islamabad, this was stated by Sirajuddin Aziz, a senor Executive of Bank Alfalah Limited after his meeting with top officials of the CDB.
Meanwhile, Bank Alfalah has arranged a financial mechanism with China’s four top-most state owned banks- Bank of China, China Construction Bank, Agriculture Bank of China and the International Commercial Bank of China for establishing cooperative partnership to promote bilateral trade. These financial institutions have agreed to provide a fix credit line to the Alfalah Bank for trade business. |
Bilateral Visits