Policy Bank Extends Loans in Seller's Credit

The Import and Export Bank of China provided 1.26 billion yuan (US$ 152 million) in seller's credit loans to the China National Machinery Import & Export Corp. (CNMIEC) to support its business in Bangladesh.

CNMIEC won a 213-million-U.S. dollar deal in Bangladesh in October last year to help upgrade the country's program-controled switchboard systems. This is expected to be the largest deal of its kind for Chinese companies to export complete sets of Chinese- made telecommunication equipment.

The Bank plays an active role in supporting Chinese firms to explore the world market.

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