Banking News
- Guangdong News
Date: 9-Feb-2007 Sources: (People's Daily)
Guangdong Development Bank (GDB) president Michael Zink shook hands with pupils at Daluo Primary School in Qingxin County yesterday, heralding a charity campaign to spread education and improve people's livelihood.
The mountainous county of Qingxin in northern Guangdong is one of the poverty-stricken areas of the province.
'Improving education for children here will lead to a sustainable development. Besides banking, we also want to take part in charity to help local people improve their livelihood,' the newly appointed GDB president said.
Zink led a team of senior bank officials to present awards to 44 students at the school. This is the first time that top GDB executives had taken part in a charity campaign after the bank got the Citigroup-led consortium's approval for capital input at the end of last year.
GDB was established in 1988 and developed into a national bank with assets worth 370 billion yuan ($46.25 billion) and more than 500 subsidiary offices across the country.
The bank donated books and stationery worth 20,000 yuan ($2,564) to the school last year, and provided more than 100,000 yuan ($12,820) in 2005 to spread education in Qingxin. GDB sources said.
Also, it donated 138,000 yuan ($17,692) in 2005 for three water irrigation projects in the area that usually was hit by droughts every year.
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