Governor ZHOU Xiaochuan of the People s Bank of China (PBC) met with President Moreno of the Inter-American Development Bank (IDB) on February 3, 2009. Governor ZHOU expressed his gratitude for President Moreno s efforts in facilitating China s accession into the IDB and warmly welcomed Moreno s visit to China within a month after China s entry.
China, as a new member, Governor ZHOU said, should cooperate closely and act collectively with the IDB in advancing collaboration in finance, trade and investment between China and Latin America and the Caribbean (LAC). China is a significant trade and investment partner of the region, remarked President Moreno, and China s accession at this critical juncture against the backdrop of the financial turbulence is of tremendous importance for LAC countries in tackling the crisis.
After the meeting, Governor ZHOU and President Moreno signed the MOU on Personnel Cooperation between the PBC and the IDB.
Afterwards, Governor ZHOU and President Moreno addressed the Seminar on Doing Business With the IDB, which aimed to introduce relevant bidding and procurement policies and procedures, pertinent information on trade financing, infrastructure and investment in the LAC region and potential cooperation opportunities between China and the IDB. More than 100 representatives from relevant Chinese ministries and commissions, financial institutions and enterprises attended the conference.
The IDB, headquartered in Washington, D.C. and founded in 1959, is the most time-honored and largest inter-governmental financial institution for regional development, whose goal is to promote economic and social development in LAC. China formally joined the IDB on January 12, 2009, thus becoming its 48th member.
