OREANDA-NEWS. April 25, 2012. The Governor of the People's Bank of China (PBC), China's central bank, Mr. ZHOU Xiaochuan, and the President of the World Bank Group, Mr. Robert B. Zoellick, signed an Agency Agreement in Washington DC that allows the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) to invest in China's Interbank bond market.

This agreement enables the World Bank to participate in the development of China's fixed income market by investing in Chinese fixed income products. 

It also allows the World Bank to potentially develop and offer Renminbi-denominated products to its borrowers.