KINSHASA,CONGO - EQS - 12 September 2018 - Wednesday 5 September, 16 African banks includingRAWBANK, the first banking institution in the DRC, and China Development Bank(CDB) signed an agreement for the establishment of the China-Africa Inter BankAssociation in Beijing (CAIBA). 

Creation of the China-Africa InterbankAssociation, September 5, 2018.

RAWBANK, the only Congolesebank to have been selected as founding member of this cooperation, henceassumes its leading role in the Congolese banking sector alongsideinternational and African banks. This agreement marks the officialestablishment of the first China-Africa financial cooperation multilateralmechanism.

Based on the presentationby H.E Xi Jinping, President of China, aimed at enhancing China-Africa relationsand promoting "10 principal cooperation plans" between this country and theAfrican continent, "eight major actions" of China-Africa cooperation wereplanned in order to advance the partnership.

Taking into account thedeficit in meeting the funding needs of African countries with regard toindustrialization, infrastructure connectivity and poverty alleviation, acloser collaboration between Chinese financial institutions and Africancountries was decided.

Within this context, theChina Development Bank (CDB), represented by its President, Mr Hu Huaibang, andpeer financial institutions in Africa jointly established the China-Africa InterBank Association (CAIBA), which is a concrete move in achieving win-win cooperationand better quality and higher common development.

RAWBANK, Congo's lone bankto be selected owing to its leading position in the banking sector for morethan 16 years, is henceforth one of the 16 founding members of CAIBA alongside internationaland Pan-African banks such as Standard Bank, Absa, Attijariwafa Bank, to nameonly a few.

With CDB, CAIBA will, inthe long term, enhance financial cooperation between all member banks to advancepartnership in various domains such as China-Africa infrastructureinterconnection, international cooperation and exchange in the humanities.

This agreement is proof ofCDB and RAWBANK commitment to strengthen the economic ties and investments betweenChina and African countries, as part of the Forum on China-Africa Cooperation(FOCAC).

China Development Bank

As the Chinese government's financial institution for development, theCDB has always put a premium on cooperation with Africa. Since the launch offunding cooperation with Africa in 2006, the CDB has continually widened itscooperation with the financial institutions of African countries by investingand funding over USD 50 billion in close to 500 projects in 43 Africancountries.

The CDB encourages Chinese enterprises to invest in Africa, assistsAfrican local governments in solving problems such as funding deficits andinfrastructure construction delays, and strives to develop economic andcommercial cooperation, increase employment and spur economic growth in Africancountries.

RAWBANK

Established in 2002 by the Rawji Group, operating in the Democratic Republicof Congo since the start of the 20th century in the areas of trade,distribution and industry, RAWBANK is the country's largest bank as it was thefirst-ever to exceed 1 billion dollars in total turnover in 2015.

Having more than 1 600 staffmembers with close to 100 sales points, 300 000 customers and 25% of market shares, RAWBANK isa key player in the development of Congo's economy. Having been certifiedand won and award, it is today considered a crucial financial stakeholder inthe DRC, for individuals and SMIs/SMEs, as well as for major enterprises andinternational institutions.

RAWBANK is rated byMoody's (B3), certified as ISO/IEC 20000 andISO/IEC 27001, and has established funding partnerships with severalinternational donors (Proparco, IFC, Shelter Africa, etc.). Safety, cost-effectivenessand sustainability are RAWBANK's operational priorities toconsolidate its growth strategy, in particular towards individuals and theprivate sector.