Development Bank donates $1.8 mln to tsunami victims
(Xinhua)
Updated: 2005-01-08 19:45

The China Development Bank (CDB) donated 1.8 million US dollars to tsunami-hit countries, President Chen Yuan of the bank announced at a special ceremony here Saturday.

This was the largest sum of money of any Chinese institution donated to Red Cross Society of China (RCSC) so far in aid for tsunami victims.

Chen said that in breakdown 600,000 dollars was provided for Indonesia, 500,000 dollars for Sri Lanka, 400,000 dollars for Thailand and 300,000 dollars for Maldives, respectively.

In recent years the bank had paid great attention to disaster relief and charity activities, he said, adding that employees at the CDB headquarters alone donated 87,000 yuan (10,500 US dollars)after the terrible earthquake and tsunamis in the Indian Ocean areas.

The RCSC had already raised roughly 105 million yuan (12.7 million dollars) from donations by Chinese for tsunami victims as of 4 p.m. Friday, according to the Ministry of Civil Affairs.

Being a major state-owned policy bank supporting the construction of capital projects, the CDB would continue to show its concern for and participate actively in the reconstruction of disaster-hit countries, Chen said.