The agreement creates a credit line, with a period of up to 5 years, that will allow BB to expand financing to Brazilian and Chinese companies
BB (Banco do Brasil) and the China Development Bank (CDB) signed a $ 1 billion commitment term to expand financing to Brazilian and Chinese companies. The agreement was in Beijing during the president (PT) to the Asian country.
Signed by Banco do Brasil’s vice-president of wholesale business, Francisco Lassalvia, and CDB vice president Wang Peng, the agreement aims to increase financial cooperation between institutions and strengthen economic ties between Brazil and China.
The agreement creates a credit line, with a period of up to 5 years, which will allow Banco do Brasil to expand financing operations in the areas of infrastructure, agribusiness, export and import. The initiative will benefit Brazilian and Chinese companies operating in Brazil, contributing to bilateral economic development.
This is the 3rd stage of the partnership between BB and CDB, which signed by 2022 the 1st contract between the institutions. The exchange began in 2013, with the inauguration of the CDB representation office in Rio de Janeiro. The following year, BB opened an agency in Shanghai.
During the prior meeting to signature, the executives of the two institutions highlighted the solidity of the partnership and expressed the mutual interest in deepening and expanding cooperation in the coming years.
Consolidation
According to the president of BB, Tarciana Medeiros, the agreement consolidates Banco do Brasil as protagonist of business between Brazil and China. At the Brazil-China Business Seminar, held on Monday (12.MAI.2025) in Beijing, she recalled that BB is the only Brazilian and Latin American bank with presence on Chinese soil.
“We built a 21 -year relationship that demonstrates that we know the needs of Chinese investors, on the one hand, and on the other we know no one like the business potentials throughout Brazil”Tarciana said in Beijing.
BB inaugurated a representation office in China 10 years before the agency’s inauguration in Shanghai in 2004. In addition to the Asian country, Banco do Brasil is present in the following countries: United States, Paraguay, Argentina, Cayman Islands, United Kingdom, Portugal, Germany and Japan.
Chinese Bank
Established in 1994, the CDB is a state -owned fund, considered an independent entity, but supervised directly by the China State Council. Among the objectives of the financial institution are support to key industries and underdeveloped sectors of the Asian country’s economy.
With 41 units in China, the CDB has a branch in Hong Kong and 11 abroad representation offices, including Rio de Janeiro. At the end of 2024, the total assets of the CDB group, including the bank’s main subsidiaries, totaled about $ 2.6 trillion.
With information from.
