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People’s Republic of China and Inter-American Development Bank sign Memorandum of Understanding for possible admission to membership into the IDB

GUATEMALA CITY -- The Governor of the People’s Bank of China, Zhou Xiaochuan, and Inter-American Development Bank President Luis Alberto Moreno today signed a memorandum of understanding that provides a framework for the possible admission of China as a member of the Bank.

In a spirit of cooperation and mutual interest, the parties formalized their intention to promptly pursue the negotiations towards the possibility of China becoming the IDB’s 48th member, and third one from Asia. Japan joined the IDB in 1976 and the Republic of Korea in 2004.

The IDB is the world’s largest regional multilateral development bank. The Bank is the primary source of multilateral financing for regional integration and the economic, social and institutional development of its 26 borrowing countries in Latin America and the Caribbean.

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