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Beijing, 21 Aug 08
UN-HABITAT Executive Director Mrs. Anna Tibaijuka met with China Development Bank President Mr. Chen Yuan in Beijing today and agreed to establish a strategic partnership between the two organizations to promote finance initiatives for global human settlements.

The two executives said both organizations shared a commitment to promoting low and middle income housing and urban development and agreed to set up a task force to work jointly on priority issues in housing and infrastructure. UN-HABITAT and China Development Bank also agreed to finalise a cooperation agreement which is expected to be signed during the World Urban Forum in Nanjing in November.

The partnership with China Development Bank is a big boost to UN-HABITAT’s mission to advance the Habitat Agenda and to achieve Millennium Development Goals. The bank is one of the largest development banks in the world, with US$400 billion in assets. It is also recognized as a most efficient bank, with a non-performing loan rate of less than 0.6 percent. The bank is particularly strong in housing and urban development finance.

Mrs. Tibaijuka invited Mr. Yuan, who presented her with a China Development Book, to attend the World Urban Forum in Nanjing.

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