CDB, Chexim discuss landmark deal with international lenders

The China Development Bank (CDB) and the Export-Import Bank of China (Chexim) are in talks with other international lenders over cooperation on overseas projects after a number of Beijing-led deals have experienced problems.

The CDB said it was "actively co-operating" with the European Bank for Reconstruction and Development (EBRD) to establish a co-lending arrangement, whereby the CDB will follow international standards - such as greater, more open competition for project contracts and more comprehensive environmental impact assessments. Any agreement would be the first example of China's development banks removing the requirement that funded projects be carried out principally by Chinese companies.

Some 14% of the 1,674 China-led investment projects associated with the Belt and Road initiative since 2013 are believed to have faced problems including public protests, poor governance, performance delays, and concerns surrounding national security.