The Import and Export Bank of China signedon Saturday in Beijing a cooperative agreement with the Manzhouli municipal government of the Inner Mongolia Autonomous Region on granting loans to small and medium-size enterprises (SMEs).

This is the bank's first cooperation with the autonomous region in North China in this regard, sources from the bank said.

According to the deal, the two sides will cooperate to support the development of SMEs in Manzhouli, an important border city in North China, based on the concept of scientific development and the combination of the advantages of the bank and the city.

The sources said the bank will grant loans to the city's foreign trade and export-oriented enterprises with good economic performance and credit.

Loans will also be provided to support the city's foreign trade and economic cooperation, investment, processing trade, as well as projects concerning high and new technologies and electronics and mechanical equipment.

The signing of the agreement not only is a new model for the bank to offer help in spurring the growth of SMEs in China's western areas, but also will contribute to speeding up the city's pace in international cooperation and development.

Manzhouli has witnessed fast economic growth in the past years and its SMEs and collectively-run businesses have grown rapidly.

Chu Bo, secretary of the Communist Party of China Inner Mongolia Autonomous Regional Committee, the autonomous region's Chairman Yang Jing and the import and export bank Governor Li Ruogu attended the signing ceremony.

Source: Xinhua