LONDON, 19-3-2015 — /EuropaWire/ — Parties sign Memorandum of Understanding to co-finance infrastructure projects
The European Bank for Reconstruction and Development (EBRD) and the Export-Import Bank of the Republic of China (Eximbank) today agreed to boost their cooperation and co-finance projects in regions where the EBRD invests.
Under a Memorandum of Understanding signed in Taipei by EBRD President Sir Suma Chakrabarti and Chairman of Eximbank Robert Rueen-Fong Chu today, the parties agreed to “promote projects that support sustainable economic infrastructure development from central Europe to central Asia and in the southern and eastern Mediterranean.”
According to the MoU, the two organisations will explore opportunities to work together in sectors such as power and renewable energy, natural resources, transport, infrastructure, telecommunications and information technology.
Signing the document, President Chakrabarti said: “I am pleased to sign this MoU with Eximbank today. It provides a framework for important cooperation and exchange of information, in order to undertake joint investments in economically sustainable projects by Taiwanese companies in the countries where the EBRD operates.”
Chairman Rueen-Fong Chu added: “In the current challenging global environment our cooperation with the EBRD, which invests in more than 30 countries, will certainly facilitate export and import transactions between the clients of our two banks and will boost the bilateral trade between our country, Europe and the wider region.”
Established in 1979 to facilitate Taiwanese export and import trade, Eximbank is a publicly-owned bank. It offers a variety of medium and long-term import/export loans, guarantees, and export credit insurance products to help firms expand their exports and overseas investments, promote international cooperation and sustain economic development.
The EBRD, an international financial institution owned by 64 countries, the European Union and the European Investment Bank, invests in more than 30 countries from central and Eastern Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean region. With an emphasis on working with the private sector, the Bank invests in projects, engages in policy dialogue and provides technical advice to foster innovation and build sustainable and open-market economies.
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