China Everbright Bank said the credit facilities would be available to 23 subsidiaries of the state-owned shipbuilder. The validity period for the credit facilities was not specified.
The agreement entered into directly between CSIC and China Everbright Bank meant that no second-tier credit approvals are not necessary for loan disbursement from any of the bank branches to the CSIC subsidiaries, according to the bank.
“Such a level of agreement raises efficiency and highlights the important role that head offices can play,” China Everbright Bank stated.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
