The China Development Bank (CDB) donated US$1.8 million to tsunami-hit countries, President Chen Yuan of the bank announced at a special ceremony in Beijing 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 US$600,000 was provided for Indonesia, US$500,000 for Sri Lanka, US$400,000 for Thailand and US$300,000 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 (US$10,500) after the terrible earthquake and tsunamis in the Indian Ocean areas.

The RCSC had already raised roughly 105 million yuan (US$12.7 million) from donations by Chinese for tsunami victims as of 4 PM 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.

(Xinhua News Agency January 9, 2005)