Bank of China signs financing agreement with Abu Dhabi’s industrial zone KIZAD
Bank of China, China’s fourth largest bank by assets, has signed an agreement to provide financing to companies setting up in a major Abu Dhabi industrial zone as it looks to capitalise on China’s Belt and Road initiative. Under the memorandum of understanding signed with Khalifa Industrial Zone Abu Dhabi (KIZAD), Bank of China’s Abu Dhabi branch will provide services such as loan, trade financing, trade settlement and dirham AED to Chinese, international and local companies investing in KIZAD.
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