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The prospects of cooperation with the China Development Bank (CDB) were discussed in St. Petersburg

15 December 2016

On 14 December, Smolny hosted the meeting with the representatives of the CDB.

On the part of St. Petersburg, this meeting was attended by the Deputy Chairman of the Committee for Investment of St. Petersburg, I. Skladchikov, and the Head of Regional Trade and Economic Cooperation Department of the Committee for External Relations of St. Petersburg, T. Ogilko. The Chines party was represented by the the Head of representative of the China Development Bank in Russia Mr. Chen Zianbo Commercial Counselor from the Consulate General of China in St. Petersburg Mr.Wang Feng Tai.

During the meeting, the parties discussed cooperation opportunities between he Government of St. Petersburg and the China Development Bank on financing of several infrastructure and transport projects, including possible formats and options for collaboration, related issues and their possible solutions.

The Chinese party expressed its interest in establishing the long-term partnerships with the Government of St. Petersburg.

The China Development Bank (CDB) was officially established on 17 March 1994, with Headquarters in Beijing, the bank has 23 departments. CDB has 38 branches in China and 2 overseas representative offices - in the Russian Federation and Egypt. Credit rating of CDB complies with the sovereign credit rating of China: Aa3 (positive) – Moody’s, AA- (stable) – Standard&Poor’s, A+ (stable) – Fitch. Authorized fund of CDB is 50 billion CNY (6 billion USD).

At the moment, CDB approved loans amounting to 58 billion USD, and issued 48 billion USD on the territory of the Russian Federation.


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