EIB president embarks on visit to China to enhance cooperation on climate change, AIIB ties

The European Investment Bank (EIB) President Werner Hoyer embarked on a five-day visit to China on Thursday, seeking to strengthen cooperation on climate change and ties with the Asian Infrastructure Investment Bank (AIIB).

The trip marks the first visit to China by a president of the Europe's long-term lending institution since 2007, the EIB said in a statement, adding that the key focus of the visit is to strengthen partnership with China to better tackle climate change.

"Tackling climate change is a global challenge and since 2010 has been the main focus of the European Investment Bank's engagement in China. China is a key partner for the EU's bank and together we look forward to achieving our common goals in the years ahead," Hoyer was quoted as saying ahead of the visit.

On the agenda is also enhancing relations with the AIIB, the China-initiated multilateral bank joined by more than 10 European countries. During the trip, the EIB is expected to ensure frequent, regular and strategic dialogues with the AIIB.

The two sides have worked "closely" during AIIB's creation, Hoyer told Xinhua during an interview, adding he was impressed by China's openness when consulting with the EIB on technical and financial experience.

The EIB will work with AIIB to streamline joint financing of projects, it said.

The EIB has its permanent representative in Beijing with an office operating for years.

Chinese Mission to the EU said China and Europe have accelerated their financial cooperation under the Belt and Road Initiative and the European Investment Plan since the start of this year.

The two sides have held technical working group meetings on investment cooperation with EIB experts involved. Endit