|Bank of China is interested in expanding its business in the Western Balkans|
|Author: CSEBA / SEEbiz|
|8th June 2018|
|PODGORICA - Montenegro's central bank, CBCG, said it plans to sign a Memorandum of Understanding (MoU) with Bank of China for cooperation in encouraging the Balkan country's economic growth.|
CBCG is working on a MoU with Bank of China with the aim of intensifying their collaboration, CBCG governor Radoje Zugic said on Wednesday during a meeting with Yuanhang Chen, CEO of the Hungarian branch of the Chinese state-owned commercial bank, according to a statement issued by CBCG.
Bank of China is interested in expanding its business in the Western Balkans, through the "One Belt, One Road" initiative, which will connect the infrastructure, economies and nations of Asia, Europe and Africa, Yuanhang Chen said at the meeting.
At the beginning of 2017, Bank of China Hungary established a wholly owned subsidiary in neighbouring Serbia, Bank of China Serbia a.d. Beograd.