Rabat - The Export-Import Bank of China (China Exim Bank) has opened a representative office in the capital Rabat on Thursday, May 28th, according to Chinese news agency Xinhua.
Rabat – The Export-Import Bank of China (China Exim Bank) has opened a representative office in the capital Rabat on Thursday, May 28th, according to Chinese news agency Xinhua.
The representative office is the first Chinese financial institution to open in Morocco. It aims to serve Morocco and 26 African countries in north, central and West Africa and provide financial service for Chinese companies in the region, the same source added.
It is also China Exim Bank’s second representative office in Africa after the first one for eastern and southern Africa was opened in Johannesburg, South Africa, in 1999.
“By taking advantage of this new financial platform, the Export-Import Bank of China will use its advantages in terms of global co-operation to step up financial links with the region, and help promote regional economic development,” said Liu Liange, China Eximbank president.
From the Moroccan side, Driss El Azami El Idrissi, minister delegate to the Minister of Economy and Finance, said: “China Exim Bank’s decision to set up its office in Morocco fully demonstrates the firm political relationship, solid friendship, and fruitful cooperation between China and the Kingdom of Morocco.”
Founded in 1994, China Exim Bank is a bank owned by the Chinese government and under the direct leadership of the State Council.
Headquartered in Beijing, the bank has 23 business branches inside China and has established correspondent banking relationships with 1,330 banks covering 160 countries and regions around the globe.