April 17, 2017Back
The China Development Bank will destine USD 150 million to the BICE to finance companies in Argentina
The BICE (Bank of Investment and Foreign Trade) has agreed to a USD 150 million finance from the CBD (China Development Bank) for investment projects to be developed in the country. The credit was consented to by the President of the Argentine institution, Pablo M. Garcia, and the CDB’s Deputy CEO and Leader of the Work Team in Argentina, Li Hongying.
The credit line will be destined to different projects related to productive investments: SMEs projects, renewable energies generation, energy infrastructure and agricultural production, among others. The financing was agreed on under very good conditions and will be disbursed in different stages, being the initial one of USD 50 million.
“This finance agreement reached with the CDB is very important for the BICE, since the agreements with international institutions let us offer loans with very advantageous conditions for Argentine SMEs. As we receive long-term funds, we may offer these resources to the Argentine companies with terms of 10 years or more to make their projects come true”, said Pablo Garcia.
The agreement was made during the visit of a CDB team led by the Deputy CEO to our country. The relationship between the BICE and the CDB will not just be financial, but a cooperative bond is expected to be created between these institutions towards good International practices and to consolidate the relationships between Argentine and Asian companies.