Publications
Publications
- September 2011
- HBS Case Collection
China Development Bank
By: Li Jin, Matthew Preble and Aldo Sesia
Abstract
In May 2011, Chairman Chen Yuan of the China Development Bank (CDB) was thinking back on CDB's financing of a major project between Petroleo Brasileiro SA (Petrobras), Brazil's state-owned oil and gas producer and China Petroleum & Chemical Corporation (Sinopec), one of China's largest oil companies. Signed two years earlier, the deal was an oil-for-loan agreement in which Petrobras committed to a 10-year oil supply to Sinopec in exchange for a $10 billion loan from CDB. The case study describes the deal and its importance to both countries. The case also discusses CDB's evolution from a policy bank to more of a commercial enterprise.
Keywords
International Finance; Emerging Markets; Energy Sources; Banks and Banking; Energy Industry; Brazil; China
Citation
Jin, Li, Matthew Preble, and Aldo Sesia. "China Development Bank." Harvard Business School Case 212-001, September 2011.