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BOC signs strategic agreement with Sinohydro

(Xinhua)
Updated: 2009-05-09 14:25

Bank of China (BOC) announced Friday the signing of a strategic cooperation agreement with Sinohydro Corporation, China's largest water conservation and hydropower group.

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Besides traditional financial services, BOC would introduce more professional services to the company under the agreement, including direct financing, project financing and overseas engineering insurance, said the bank.

BOC has accumulatively offered 40 billion yuan ($5.88 billion) of credit quota to Sinohydro Corporation, which has a network of 17 subsidiaries in China and 42 overseas branches worldwide.