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Ukraine-China financial cooperation deepens
10 December 2018 04:41

Governor of National Bank of Ukraine Yakiv Smolii has paid his visit to Beijing on 10 December 2018. During the visit National Bank of Ukraine (NBU) and People’s Bank of China (PBC) have renewed the Chinese Remnimbi / Hryvnia Bilateral Currency Swap Arrangement for another three years. The maximum value of the swap line remains unchanged at RMB 15 billion or UAH 62 billion.Moreover, the National Payment System Ukrainian Payment Area PROSTIR and UnionPay International, the biggest international payment system in the world in terms of payment cards issued, have entered into an agreement for issuing co-badged cards. The respective agreement was signed today in Beijing by CEO of UnionPay International Cai Jianbo andGovernor of the National Bank of Ukraine Yakiv Smolii. Thanks to a wide UnionPay’s global card acceptance network, users of co-badged cards under the brands PROSTIR and UnionPay will be able to pay for goods and services, as well as withdraw funds in ATMs not only in Ukraine, but practically all over the world.The NBU believes that UnionPay International operation in Ukraine will foster competition, improve quality of financial services, push the development of innovative technologies on the payment market and create conditions for new investments into the country’s economy.

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