Chairman, China Development Bank
Hu Huaibang, outgoing Chairman of Shanghai-based Bank of Communications, replaced Chen Yuan as Chairman of China Development Bank in May. As of February, the CDB had provided loans worth US$16 billion to some 30 African countries. Hu will oversee the expansion of the CDB's activities on the continent, in addition to strengthening the China-Africa Development Fund, which it manages. So far, the CADF has committed to financing $2 bn. in projects that focus on bringing new Chinese investors to African markets.
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