Wednesday, February 10, 2010

November 13, 2009 16:30 PM

IDB, ADB Ink A Deal To Further Strengthen Ties

SANTIAGO, Nov 13 (Bernama) -- Inter-American Development Bank (IDB) and Asian Development Bank (ADB) would work more closely in a range of areas in a bid to build ties between the two fast-developing regions, China's Xinhua news agency reported quoting IBD as saying on Thursday.

An agreement covering international trade, climate change and development of low carbon transport was signed on Monday in Tokyo by IBD president Luis Alberto Moreno and ADB president Haruhiko Kuroda before the Leaders' Summit of the Asia-Pacific Economic Cooperation Forum, IDB said.

"There is enormous interest in Latin America and the Caribbean in building closer ties with Asia and the Pacific," Moreno said. "Strengthening our partnership with ADB is an ideal way to help our member countries in achieving that goal."

Kuroda said that, "as the world economic order gradually takes on a new shape and structure, it is important that our two regions increase cooperation and reduce barriers to trade, raise investment and collaborate to promote financial stability along with regional and global public good."

Both institutions this year had agreed to share access to their trade finance programs, which links more than 100 banks in supporting trade between enterprises of the two regions.

-- BERNAMA

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