The second session of the Board of Directors of the China Arab National Bank Consortium was held

Mondo International Updated on 2024-01-28

On December 5, local time, the second meeting of the Board of Directors of the China-Arab States Bank Consortium was held in Cairo, Egypt. Xie Taifeng, member of the Party Committee of China Development Bank, Hisham Okasha, Chairman of the National Bank of Egypt, Nadim Kassa, Chairman of the Banco Française of Lebanon, and other members of the Board of Directors attended the meeting and delivered speeches, Liao Liqiang, Chinese Ambassador to Egypt, and Rami Naga, Deputy Governor of the Bank of Egypt, were invited to attend and deliver speeches, and representatives of financial institutions from the United Arab Emirates, Qatar, Kuwait and other Arab countries attended the meeting. The meeting conducted in-depth discussions on further cooperation, support and service for China-Arab economic and social development under the framework of the interbank consortium, and issued the "Joint Statement on Supporting the China-Arab Strategic Partnership in the New Era".

On December 5, 2023 local time, the second meeting of the Board of Directors of the China-Arab States Bank Consortium was held in Cairo, Egypt.

According to the China Development Bank, China and Argentina are both important representatives of emerging economies, and although they have different resource endowments and different stages of development, they are both in a critical period of transformation of development mode, optimization of economic structure and upgrading of growth momentum, and there are broader opportunities for practical cooperation between China and Arab countries in the future. All member banks look forward to expanding the "circle of friends", rejuvenating stronger vitality and achieving more fruitful results under the mechanism of the China-Arab Bank Alliance, and propose to strengthen strategic synergy and lead common development through planning and cooperationAccelerate the innovation of financing models to serve the development of the real economy;Play the role of a bridge to promote exchanges and mutual learning of policies and rules;Jointly prevent and control risks and serve sustainable development.

The National Bank of Egypt reviewed the achievements of practical cooperation between China and Egypt in the fields of investment and finance in recent years, elaborated on the key directions of mutually beneficial cooperation in the future, highly praised the positive role played by the China-Arab Banking Consortium for a long time, and hoped that all parties in the banking consortium would further strengthen cooperation, share experience, and promote the in-depth development of multilateral and bilateral relations.

The Chinese Embassy in Egypt said that since the Belt and Road Initiative was put forward ten years ago, China and the Arab States have jointly built the high-quality development of the Belt and Road Initiative, established a strategic partnership of comprehensive cooperation, common development and future-oriented, and the Arab world has become a highly dense region of China's strategic partnership. A series of new breakthroughs have been made in China-Arab financial cooperation, providing strong support for practical cooperation between the two sides. It is hoped that all member banks will further deepen exchanges, enhance understanding, reach more consensus on cooperation, and find more cooperation opportunities through platforms such as the China-Arab Banking Alliance.

The Bank of Egypt said that at present, the economic and trade ties between China and Argentina are becoming increasingly tightened, and the financial cooperation has been fruitful, and it is hoped that the two sides will increase cooperation in the fields of green economy and new energy.

The participating member banks of the interbank consortium agreed that the vision of economic development and transformation of Arab countries and China's joint construction of the "Belt and Road" initiative will usher in more historical convergence, and all parties look forward to working together under the interbank consortium mechanism, seizing the opportunity, and better playing the important role of financial cooperation in serving the pragmatic cooperation between China and the Arab countries in various fields.

It is reported that the China-Arab States Bank Consortium was established in July 2018 under the leadership of the China Development Bank, and is the first multilateral cooperation mechanism between Chinese and Arab financial institutions. As of the end of November 2023, the Bank has supported a total of 99 projects and granted 171 loans in Arab countries$8.9 billion.

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