On March 29 and 30, 2009, Governor Zhou Xiaochuan of the People s Bank of China (PBC) headed a delegation to attend the 50th Annual Meeting of the Inter-American Development Bank (the IDB) Group. Governor Zhou addressed the meeting in capacity of the Governor for China on the Board of Governors of the IDB.
This event marks China s first participation in the IDB annual meetings as a full member since its accession to the Group on January 12, 2009. The annual meeting is of special historic significance against the backdrop of the spreading financial crisis and at a time that coincides with the IDB s 50th anniversary.
In his speech at the meeting, Governor Zhou applauded the achievements the IDB has made in promoting poverty reduction and socio-economic development in Latin America and the Caribbean over the past 50 years, and pointed out that regional development institutions including the IDB should play a bigger role amidst the current financial crisis.
Governor Zhou also updated the meeting on the cooperation between China and the IDB concerning trade finance, infrastructure and personnel cooperation, saying that China is willing to work with other member countries to deal with the financial crisis and to promote the sustainable economic and social development in Latin America and the Caribbean.
During the annual meeting, Governor Zhou also delivered a keynote speech entitled Promote China-Latin American Economic and Trade Cooperation to Jointly Address the Financial Crisis at a high-level seminar focusing on how the region can tackle the financial crisis.
Established in 1959, the Washington-based Inter-American Development Bank Group is the world s most time-honored and largest regional inter-governmental development financial institution whose purpose is to promote economic and social development in Latin America and the Caribbean. China officially joined the IDB Group on January 12, 2009 and became the 48th member country of the Group.
