CHANGSHA, Sept. 6 (Xinhua) -- 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).
The deal was reached at an African investment forum 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 infrastructure, power, communication, transportation and agricultural projects in African countries, according to the deal.
The CDB also signed a memorandum of cooperation with Hunan provincial 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.
Fire brigade in Shanghai holds group wedding
Tourists enjoy ice sculptures in Datan Town, north China
Sunset scenery of Dayan Pagoda in Xi'an
Tourists have fun at scenic spot in Nanlong Town, NW China
Harbin attracts tourists by making best use of ice in winter
In pics: FIS Alpine Ski Women's World Cup Slalom
Black-necked cranes rest at reservoir in Lhunzhub County, Lhasa
China's FAST telescope will be available to foreign scientists in April
"She power" plays indispensable role in poverty alleviation
Top 10 world news events of People's Daily in 2020
Top 10 China news events of People's Daily in 2020
Top 10 media buzzwords of 2020
Year-ender:10 major tourism stories of 2020
No interference in Venezuelan issues
Biz prepares for trade spat
Broadcasting Continent
Australia wins Chinese CEOs as US loses
