The China Development Bank (CDB) here on Friday signed a MoU with National Bank Of Pakistan (NBP) to provide 100 million dollar credit line to NBP for project financing in Pakistan.
The credit line, according to National Bank Of Pakistan (NBP) sources here, would be utilised for financing projects in power, fertiliser, chemical, telecom, oil and gas and infrastructure. Both banks have also agreed to identify viable projects in Pakistan to be financed jointly. The Credit line will be available to NBP next month and the tenor of credit line is 8 years. SEVP of NBP Shahid Anwar Khan and General Manager of CDB Xia Qiang executed the MoU.
It may be noted that the NBP and CDB have been co-operating with each other since 2005 following its Chairman Chen Yuan visit to NBP head office where he held meeting with its President Ali Raza.
Shahid Anwar Khan, speaking on the occasion pointed out that the execution of MoU shows CDBs long-term commitment towards development of Pakistan's industrial sector in partnership with NBP.