Petrobras Signed a $5b Funding Agreement with China Development Bank

Source: www.gulfoilandgas.com 5/20/2015, Location: South America

Petrobras has signed with China Development Bank Corporation- CDB a cooperation agreement for the years 2015 and 2016.

This agreement includes funding of $ 3.5 billion, already disbursed, reported by Petrobras to the market on 1 April 2015. In addition, $ 1.5 billion will be disbursed totaling $ 5 billion in financing in 2015.

The agreement was signed by Petrobras President, Aldemir Bendine, and the CDB President, Hu Huainbang, during a ceremony held in Brasilia.

This agreement continues the strategic partnership between the CDB and Petrobras, strengthening cooperation between the economies of both countries.

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