China’s development banks — the biggest lenders in the sector worldwide — are ramping up co-operation with overseas financial institutions after problems with their international investment projects.
The China Development Bank (CDB) and the Export-Import Bank of China (Ex-Im Bank) are seeking to spread the burden of funding international projects, officials and executives said.
CDB is considering combining its lending efforts with western financial institutions that require adherence to “international standards” — including open, competitive tenders for project contracts as well as public studies on environmental and social impacts.
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