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China Development Bank to open headquarters in Panama

China Development Bank will open a regional headquarters in Panama as part of a series of agreements signed between China and the Central American country, El Capital Financiero reported.

In China, representatives from Panama's Ministry of Economy and Finance and the China-based bank signed an agreement during the visit of President Juan Carlos Varela and a Panamanian delegation.

The alliance establishes the basis for financing infrastructure projects in Panama, the Ministry of Economy and Finance said. The collaboration platform also includes the areas of productivity and investment between the two countries.

Meanwhile, the ministry also signed a memorandum of understanding with Export-Import Bank of China, in which the bank's establishment of regional offices in Panama was proposed.

Panama and China signed 19 agreements on commercial and economic areas, among others.