As part of the Chinese Premier’s visit to Croatia a ceremony was held in Cavtat on Thursday to mark the naming of the China CEEC Interbank Association's management board.
Chinese Premier Li Keqiang's visit to Croatia is being viewed within the context of China's Belt and Road Initiative. The goal of the initiative is to create the biggest trade, traffic and infrastructure network between China and Europe in history and to cement China's role as a global leader in the 21st century.
One of the keys to the Belt and Road Initiative will be financing major infrastructure projects. To this end the China Development bank initiated the establishing of the Interbank Association between China and the countries of Central and Eastern Europe.
Speaking at the ceremony in Cavtat the Governor of the China Development Bank Zheng Zhijie spoke about the association’s role with regard to the massive changes the world is confronted with. "One group of countries are leaning towards protectionism, which threatens global development, but also opens up new opportunities for China and the 16 countries of Central and Eastern Europe. Uncertainty on the political front increases risk, but we have to be persistent in achieving our common goals, and they are economic growth and sustainable development," Zhijie said.
"Tomorrow we will sign a framework agreement for 300 million Euro with the China Development Bank, which will enable us to finance everything that would otherwise be financed by the Croatian Bank for Reconstruction and Development. This includes additional projects from the "Belt and Road Initiative, cooperation in project financing, and all other projects that emerge from our bilateral and multilateral cooperation within the framework of this alliance," said Tamara Perko, the president of the Croatian Bank for Reconstruction and Development Bank’s management board.