To download APD News app
1. Please scan the QR Code 2. Download and install APD News App
Belt & Road2018-02-02
China Development Bank (CDB) and Standard Chartered Bank have signed a deal worth 10 billion yuan (about 1.6 billion U.S. dollars) on Belt and Road cooperation. CDB will make available up to 10 billion yuan in the next five years to Standard Chartered to facilitate Belt and Road projects, according to a press release from Standard Chartered Bank. Standard Chartered will use this to support loans to fund corporate finance projects and trade finance transactions along the Belt and Road, the press release said. The banks signed the memorandum of understanding during British Prime Minister Theresa May's three-day official visit to China, which started Wednesday. CDB is China's largest development bank. Last year, it set up a special lending scheme worth 250 billion yuan to support Belt and Road cooperation on infrastructure, industrial capacity and financing. With a presence in 45 markets along the Belt and Road, Standard Chartered Bank announced in December a plan to spend at least 20 billion U.S. dollars to finance projects under the Belt and Road Initiative by late 2020. The Belt and Road Initiative, proposed by China in 2013, aims to build trade and infrastructure networks connecting Asia with Europe and Africa based on ancient land and maritime trade routes. (ASIA PACIFIC DAILY)
China Development Bank (CDB) and Standard Chartered Bank have signed a deal worth 10 billion yuan (about 1.6 billion U.S. dollars) on Belt and Road cooperation.
CDB will make available up to 10 billion yuan in the next five years to Standard Chartered to facilitate Belt and Road projects, according to a press release from Standard Chartered Bank.
Standard Chartered will use this to support loans to fund corporate finance projects and trade finance transactions along the Belt and Road, the press release said.
The banks signed the memorandum of understanding during British Prime Minister Theresa May's three-day official visit to China, which started Wednesday.
CDB is China's largest development bank. Last year, it set up a special lending scheme worth 250 billion yuan to support Belt and Road cooperation on infrastructure, industrial capacity and financing.
With a presence in 45 markets along the Belt and Road, Standard Chartered Bank announced in December a plan to spend at least 20 billion U.S. dollars to finance projects under the Belt and Road Initiative by late 2020.
The Belt and Road Initiative, proposed by China in 2013, aims to build trade and infrastructure networks connecting Asia with Europe and Africa based on ancient land and maritime trade routes.
(ASIA PACIFIC DAILY)
American cruise passengers quarantined at US military bases
Feb 02,2018
US envoy forges ahead with troubled Taliban peace deal
Feb 02,2018
India COVID-19 cases hit record high amid monsoon rains
Feb 02,2018
Iran imposes new curbs as coronavirus toll rises
Feb 02,2018
Heavy rain floods southern Japan; over a dozen presumed dead
Feb 02,2018
Italy eyes measures to support auto, tourism industries: PM
Feb 02,2018
India, Pakistan Exchange Lists of Civilian Prisoners as Part of 2008 Agreement, New Delhi Says
Pentagon Says No Proof of Russia’s Alleged ‘Deal’ With Taliban as New Details Emerge
British PM urges Israel to halt West Bank annexation
Sweden Losing Millions Per Day as High COVID-19 Spread Stifles Tourism
Shaanxi delivers new stadium for China's 14th National Games
China enjoying peace, stability, development under CPC's leadership: senior Cambodian official
