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May 2022: Signing of MoU between Pak China Investment Company Limited and Industrial & Commercial Bank of China Limited

A Memorandum of Understanding (MoU) was signed between Pak China Investment Company (PCICL) & Pakistan operations of Industrial and Commercial Bank of China Limited (ICBC) to provide better financing and advisory services to Pakistani and Chinese Companies, especially to the projects under China-Pakistan Economic Corridor (CPEC).  
 Chinese Counsellor from Embassy of the People's Republic of China in Pakistan was Chief Guest of the signing ceremony held at Chinese Embassy. The ceremony was attended by Mr. Jiang Ketao, Managing Director (A) of PCICL and Mr. Yuan Baoxin, Head of ICBC Islamabad operations along with senior management of both institutions. 
According to the MoU, both sides agreed to cooperate on the basis of this MoU, and finalize a comprehensive cooperation model to facilitate and offer financial facilities (funded / non-funded) to Pakistani and Chinese companies. Both companies hoped that this MoU between PCICL and ICBC would further strengthen business relations between Pakistan and China.