China Development Bank (CDB), the country's major policy bank, signed a deal Thursday to loan 500 million U.S. dollars to African Export-Import Bank (Afreximbank).

 

中国国家开发银行周四与非洲进出口银行签署一份5亿美元的贷款协议。

 

The deal was reached at an African investment forum¹ held Thursday in Changsha, capital of central China's Hunan Province.

 

Afreximbank is an international financial institution aiming to finance and promote intra- and extra-Africa trade. The bank will enhance ties with CDB in financing infrastructure², power, communication, transportation and agricultural projects in African countries, according to the deal.

 

The CDB also signed a memorandum³ of cooperation with Hunan provincial⁴ government at the forum to promote the province's investment in Africa.

 

On Wednesday, CDB led the establishment of China-Africa Financial Cooperation Consortium along with 16 African financial institutions.

 

Since 2006, CDB has spent more than 50 billion dollars financing nearly 500 projects in 43 African countries.

点击收听单词发音