China EXIM Bank and Standard Bank of South Africa sign the first RMB loan agreement
Recently, the Export Import Bank and Standard Bank of South Africa signed the first RMB loan agreement, with the loan funds mainly used to support economic and trade cooperation between China, South Africa, and Central Africa.
This business is the first cross-border RMB loan business between the Export Import Bank and African financial institutions. It is an important measure for the Export Import Bank to focus on its main business and firmly implement the eight actions of high-quality co construction of the "the Belt and Road". It is of great significance to deepen economic, trade and financial cooperation among BRICS countries and consolidate the comprehensive strategic partnership between China and South Africa.
Standard Bank of South Africa is one of the strongest comprehensive financial institutions in the African region. Since 2020, the Export Import Bank has established financing cooperation with Standard Bank of South Africa through various forms, and has implemented numerous projects in infrastructure, energy, telecommunications and other fields in the African region, achieving positive results. Next, the Export Import Bank will adhere to its functional positioning, continue to play a leading and driving role, and help high-level opening-up and international economic cooperation reach new heights.
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