When the Chinese government agreed in May 2009 to lend $10bn to Petrobras in exchange for a guaranteed supply of oil over the next decade, China Development Bank was in charge of handing over the cash.
In almost every large deal involving preferential Chinese loans to foreign governments or companies, CDB is at the top of the list of Chinese financial institutions distributing the funds.
While CDB is theoretically supposed to lend money based on commercial considerations, these often seem to come second when it extends mega-loans to the likes of Russia, Venezuela and Brazil in exchange for guaranteed supplies of oil.
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