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Eximbank Cooperates with ECGD
The Export and Import Bank of China (Eximbank) said Thursday that it has signed an agreement of cooperation with the British Export Credit Guaranteeing Department (ECGD) to promote overall cooperation between the two country's export credit institutions.
According to the agreement, the two sides will closely cooperate in export credit insurance and guarantee businesses. When both Chinese and British enterprises provide commerce and labor services for the same project of a third country, the Eximbank and the ECGD will offer support for commerce and labor export.
Founded in 1919, ECGD is the world's first official export credit institution to support home country export and overseas investment.
ECGD has so far signed similar agreements with export credit institutions from many countries, but this is the first time with a Chinese export credit institution.
An Eximbank spokesman said that cooperating with ECGD will benefit Eximbank in learning advanced information technologies and underwriting experiences.
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