CDB plays active role in boosting Belt, Road

International cooperation

CDB adheres to the principles of dialogue, joint contribution and shared benefits while focusing on financial cooperation and diversified synergy that promotes establishment of multilateral financial cooperation mechanisms. To that end, it has revved up efforts to strengthen multilateral cooperation with financial institutions from Belt and Road countries as well as international financial institutions.

Over the years, CDB has established eight regional financial cooperation mechanisms, including the Shanghai Cooperation Organization Interbank Association, China-ASEAN Interbank Association and BRICS Interbank Cooperation Mechanism. Within these multilateral frameworks, it has facilitated activities such as syndicated loans, joint financing and interbank credit to promote inclusive growth under the BRI.

As an example, the China-ASEAN Interbank Association, established in October 2010 during the 13th China-ASEAN Summit, covers Bank Islam Brunei Darussalam, Canadia Bank, Bank Mandiri, Lao Development Bank, Commerce International Merchant Bank, Myanmar Foreign Trade Bank, BDO Unibank, Kasikorn Bank, DBS Bank of Singapore, Bank for Investment and Development of Vietnam and CDB.

Building on this foundation, in November 2019, during the 22nd ASEAN Plus Three Summit, the member banks of the China-ASEAN Interbank Association, together with Japan Bank for International Cooperation and Korea Development Bank, established the ASEAN plus Three Interbank Cooperation Mechanism. Under the mechanisms, as of the end of June, CDB has engaged in credit cooperation worth 20.6 billion yuan with relevant member banks and collaborated with them to disburse loans totaling $9 billion. This has provided effective financial support for regional economic and trade cooperation and small and medium-sized enterprises.

As important platforms for regional financial cooperation, the two banking unions have achieved effective cooperation in mechanism, policy and project financing, and with CDB playing an integral role, economic and social development in the region has been greatly improved, said an official from the Mission of China to ASEAN.

While continuously achieving new results in promoting multilateral cooperation, CDB actively bolsters practical cooperation with international financial institutions through various means such as joint financing and third-party market cooperation.

In November 2022, CDB and Senegal's Ministry of Economy, Planning, and Cooperation signed a loan agreement and jointly supported a wastewater treatment project in Dakar's Hann Bay with the French Development Agency. This marked the first third-party market cooperation conducted through joint financing by CDB and the French Development Agency.