 China to become member of IDB
(China Daily)
Updated: 2008-10-25 08:18 China will join the Inter-American Development Bank as a donor member, building on its growing links with Latin America and the Caribbean. It will become the 48th member country in the Washington, DC-based IDB, the single largest source of long-term lending for the region, the bank said in a statement on Thursday. "We are thrilled to bring a large and growing economy like China into a community of nations that are working together to resolve the complex development challenges facing Latin America and the Caribbean," said IDB President Luis Alberto Moreno. "It is a historic decision that takes China's thriving commercial relationship with our region into the development sphere," he said. China has agreed to contribute $350 million to the IDB to bolster key programs at a time when the world economy is under duress. Xinhua (China Daily 10/25/2008 page8) |
