On October 27, 2008, PBC Governor ZHOU Xiaochuan met Moreno, President of the Inter-American Development Bank (IDB) and his delegation.
Zhou extended welcome to Moreno and acclaimed his efforts to facilitate China s pursuit of IDB membership. He said China s accession would provide a new platform for cooperation between the two sides in finance, trade, investment, science and technology, which was in line with the interests of both parties. Moreno echoed Governor Zhou s comments and emphasized that China s entry into the IDB was important to promote poverty alleviation in Latin America and the Caribbean. They also conducted extensive and in-depth discussions on cooperation issues after China s accession.
The Board of Governors of the IDB Group concluded its voting and accepted China as its new member on October 15, 2008. After going through legal procedures, China will officially join the Inter-American Development Bank, the Inter-American Investment Corporation and the Multilateral Investment Fund under the IDB Group. China will contribute USD350 million to the IDB in the capacity of a donor member.
The IDB Group was founded in 1959 and headquartered in WashingtonD.C. It is the world s largest and oldest regional inter-governmental development financial institution with 47 member countries. Its aim is to promote economic and social development in Latin America and the Caribbean.
