China Development Bank and Indonesia's Bank Mandiri have signed a strategic cooperation memorandum of understanding in Jakarta on August 29.
The two banks will build a comprehensive cooperation system for finance, investment and client recommendation, and promote therenminbi's use in the Indonesia market, in a bid to support the infrastructure construction in Indonesia and bilateral economic and trade cooperation.
The two banks initiated credit-extension cooperation worth US$1 billion in 2015. CDB has loaned US$1 billion to Bank Mandiri to support bilateral cooperation projects.
China Development Bank is the largest foreign-bound investment and financing cooperation bank in China, and the world-largest development financing institution. Bank Mandiri is one of the largest state-owned banks in Indonesia, a major financial supporter of infrastructure construction and industry development in the country.