THE BULGARIAN INDUSTRIAL ASSOCIATION AND CHINA DEVELOPMENT BANK CORPORATION CONCLUDED A PLANNING COOPERATION FRAMEWORK AGREEMENT

The Bulgarian Industrial Association - Union of the Bulgarian Business and China Development Bank Corporation entered into a Planning Cooperation Framework Agreement.

The Parties agreed to establish strategic cooperation relationship in planning and chose key areas to implement the planning cooperation in order to achieve sustainable economic development of the two countries, and to strengthen economic cooperation between the two countries, as well as to stimulate enterprises of the two countries to cooperate effectively.

The Parties shall cooperate in the planning of investment financing.  The areas of cooperation shall include without limitation: Industry, Energy and Infrastructure.

The Parties shall design and develop a cooperation platform for enterprises of the two countries and provide solutions related to bottle necks in the cooperation while jointly strategize and choose projects of importance and implement those key projects of importance.

The Parties will work together to determine major priority projects, and China Development Bank Corporation will actively provide financing support to projects which satisfy its lending policies and requirements. The Bulgarian Industrial Association - Union of the Bulgarian Business shall provide facilitation and assistance for Chinese enterprises to participate in the relevant projects.

China Development Bank Corporation will leverage its planning expertise and methodology, to establish a planning expert team to communicate with relevant departments of Bulgarian Industrial Association.