China’s membership of EBRD to be finanlised

14 Jan 16

The president of the European Bank for Reconstruction and Development will visit China this week to finalise the country’s membership of the bank.

The EBRD’s existing shareholders agreed to China’s membership at the end of 2015. Its president, Sir Suma Chakrabarti, will discuss future cooperation between the EBRD and China following its membership as well as attend the inauguration of the Beijing-based Asian Infrastructure Investment Bank.

“Chinese membership of the EBRD is a win-win scenario – for China, the EBRD and for the countries where the EBRD invests,” said Chakrabarti.

He said the EBRD will support China’s integration into the global economy and be a strong partner for Chinese companies as they invest in EBRD regions.

Membership of the bank will also provide a boost to China’s “One Belt, One Road” initiative which focuses on connectivity and cooperation between countries of Eurasia.

The EBRD said it will benefit from having the world’s second largest economy as a shareholder and gaining better access to Chinese firms that could be partners in EBRD regions.

During his visit to Beijing on the 15-16 January, Chakrabarti will hold talks with Chinese premier, vice premier, governor of the People’s Bank of China and also the Chinese governor-designate at the EBRD.

He will also meet AIIB president Jin Liqun and New Development Bank president K.V. Kamath. The New Development Bank is headquartered in Shanghai.

The EBRD said it has been a strong supporter of the AIIB and has cooperated from its earliest days, providing advise on issues ranging from governance to social and environmental standards.

Chakrabarti has expressed a strong desire for EBRD and AIIB cooperation on joint projects.

  • Emma Rumney

    Emma is a reporter at Cooking Recipes International. She also writes for in the UK.

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