OREANDA-NEWS. August 08, 2012. Prime Minister Mykola Azarov has suggested the Chinese State Development Bank's management to consider the possibility of opening its representation in Ukraine.

He announced that during a meeting with Mr. Li Jiping, vice-president of China Development Bank.

"Ukraine has currently representative offices of almost all major international banks. It is impossible to implement large projects without it. Therefore, if we are talking about long-term cooperation, you should think over the issue of opening its office at us," said Mykola Azarov.

He added that China state bank’s credit line exceeds annual total credit portfolio of the World Bank, European Bank for Reconstruction and Development and European Investment Bank.

"One of your credit contract will be approximately equal to the whole credit portfolio of banks," said PM.

Mr. Li Jiping, in turn, pointed out that he would deliver the issue of opening representative offices in Ukraine to the bank's management, but this requires obtaining approval of China's permitting authority.

Recall, the China Development Bank is ready to grant a loan of USD 3.656 billion to Ukraine for the project implementation to replace the Russian gas by the Ukrainian coal.