ADB, China Eximbank Team up to Boost Asia's Development

The

and Export-Import Bank of China will jointly provide at least USD3 billion to back projects in poor Asian nations. "Access to sanitation, power and transportation links is still very poor in many parts of Asia. Massive amounts of funds are needed to address that if we are to reduce poverty in the region," said ADB vice-president Ursula Schaefer-Preuss. "This agreement with China Eximbank will ensure funds get systematically directed towards those and other urgent projects that will help the region weather the current global downturn."

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.