China Dev Bank discusses project financing with National Bank of Pakistan
Pakistan Times Business & Commerce Desk

KARACHI: A four-member delegation from China Development Bank headed by its Governor Chen Yuan Thursday visited National Bank of Pakistan and held discussions on the prospects of mutual cooperation in the field of project financing and other related areas with Syed Ali Raza, President who led NBP side.

Welcoming the delegation, Syed Ali Raza briefed Chen Yuan on changes taking place in the economy of Pakistan specially in the field of banking finance.

Visibly impressed with the post reform turnaround of the performance of the Pakistan’s banking sector and National Bank of Pakistan during last five years, Governor CDB expressed desire to have cooperation with banking sector of Pakistan in setting up an infrastructure development fund and establishment of a joint venture investment company.

CDB is also seeking partnership with NBP in Syndicated Project and SMEs financing in Pakistan. Cooperation between the two banks in training and secondment of NBP staff at China Development Bank was also agreed in principle.

Both parties agreed in principle that the four areas of cooperation will be a win-win situation not only for both the institutions but also for the Chinese and Pakistani corporations and contractors.

It was also discussed that Asian Development Bank can be invited to participate in the formation of the fund and the agreement to be of a tri-partite nature. ●