16:54 - 10.07.2025

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July 10, Fineko/abc.az. During the meeting of the BRICS Interbank Cooperation Mechanism in Rio de Janeiro, China Development Bank (CDB) and the Development Bank of Southern Africa (DBSA) signed a loan agreement on 2.1 billion yuans (approx. $290 million).

ABC.AZ reports that this is the first such mechanism of yuan loans between the two sides to support African projects. The funds will be used to develop infrastructure, energy, ICT, water and sanitation systems, as well as production in African countries.