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Deputy Governor of the China Development Bank visits Namibia

Thursday,June 04,2009 Posted: 17:36 BJT(0936 GMT) 驻纳米比亚使馆经商处

Mr. Li Jiping, deputy Governor of the China Development Bank (CDB), visited Namibia from May 21- 24. During the visit, Mr. Li Jiping signed a Memorandum of Understanding with CEO of the Development Bank of Namibia.

The Memorandum of Understanding signed by the two banks establishes the frame of reference for cooperation in financing of infrastructure and skills development. The signing is a result of discussions, which started between the two banks from 2006.

Established in 1994, the CDB is one of the most successful development finance institutions in the world. By the end of 2008, the CDB had issued an accumulated 1.6 trillion Yuan in loans to more than 4000 projects including infrastructure development projects like the Three Gorges Dam, infrastructure for the Beijing Olympics and the South-to-North Water Transfer project.

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