China established a Silk Road infrastructure fund in a value of 40 billion USD
China will contribute to set up a Silk Road infrastructure fund in a value of 40 billion USD to boost connectivity across Asia, President Xi Jinping announced on Saturday, the latest Chinese project to spread the largesse of its own economic growth.
China has dangled financial and trade incentives before, mostly to Central Asia but also to countries in South Asia, backing efforts to resurrect the old Silk Road trading route that once carried treasures between China and the Mediterranean.
The fund will be for investing in infrastructure, resources and industrial and financial cooperation, among other projects, Xi said, according to Xinhua.
The goal of the fund is to “break the connectivity bottleneck” in Asia, state media quoted Xi as saying during a meeting in Beijing with leaders from Bangladesh, Cambodia, Laos, Mongolia, Myanmar, Pakistan and Tajikistan. (MTI)
Related news
Related news
Dr Zoltán Pogátsa on the Hungarian economy: neither the golden age, nor an apocalypse
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Eurozone GDP grew by 0.1 percent in the second quarter compared to the previous quarter
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >KSH: industrial production decreased by 1.0 percent compared to the same period of the previous year, expanded by 2.0 percent compared to the previous month
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >