(TAP) - The Tunisian Professional Association for Banks and Financial Institutions (APTBEF) and the China Development Bank (CDB) have agreed to sign a framework agreement, stating the CBD's intervention principles, to finance the projects of companies based in Tunisia, announced Thursday the Tunisian Professional Association for Banks and Financial Institutions.
This decision was taken at the end of a meeting held on Wednesday in Tunis between the president of the association, Ahmed El Karm and a delegation of senior officials of the CBD, led by its Director of Global Cooperation, Qing Xuxiang, attended by the representatives of the banks of deposits installed in Tunisia.
According to the APTBEF, this agreement will specify, in particular, the following two main forms of financing:
- Banking pool financing for major projects in a wide range of sectors, including agri-food and renewable energies.
- Specific agreements with the Tunisian banks concerned, providing them with credit lines from the C.D.B. to be used to finance small- and medium-sized business loans.
The Chinese side also said that the CBD is already involved in the African economy, by the end of 2016, it has given cumulative loans of $ 55 billion to 43 African countries pointing out that China's development bank is very flexible in adapting its financing mechanisms to the characteristics of the business environment in each country concerned.
Tunisian banks have expressed their interest in starting to use the resources of the C.D.B. to the investment of companies established in Tunisia.
Created in 1994, the CBD has become today the most important development bank in China and internationally in terms of financing foreign investment, long-term loan and Issuance of bonds.
By the end of 2016, the CBD's total commitments amounted to about USD 1,400 billion and total assets USD 2,000 billion. For decades, the CBD has been interested in Africa and has set up credit lines to finance SMEs in Africa as well as a China-Africa development fund.
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