(17 October 2012 – China) The European Investment Bank (EIB) plans to open a representative office in Beijing by the end of the year to expand its presence in China.EIB president, Werner Hoyer said the branch will strengthen cooperation between China and the European Union whose member states own the EIB.
He said the EIB has been communicating regularly with the Ministry of Finance and the Ministry of Foreign Affairs in Beijing to keep the plan on track.
‘I am really looking forward to opening the office in Beijing under the umbrella of European representation,’ Hoyer said.
Hoyer said he is trying to settle the remaining details, such as the branch’s opening date, as quickly as possible. He might visit China this year to help open the office if various important matters related to the project are settled.
Once the office is opened, Hoyer said it will undertake various projects with Chinese partners.
EIB granted a US$645 million (A$629 million) loan to China that has been used to support up to 15 projects in China to mitigate climate change and support better use of renewable energy sources and a more efficient use of energy in general.