China EximBank issues financial bonds to support Belt and Road cooperation
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The Export-Import Bank of China (China EximBank) has launched financial bonds to boost cooperation for the Belt and Road Initiative (BRI) in both interbank and over-the-counter markets.
This is the first time such bonds, maturing in three years, are being traded beyond the interbank market, with the funds raised aiming at supporting China EximBank’s BRI projects, according to the bank.
As a policy bank supporting China’s foreign trade, investment, and international economic cooperation, the China EximBank has so far issued 39 billion yuan (about 5.47 billion U.S. dollars) of financial bonds to promote BRI cooperation.
To boost financing for the BRI project, China announced last October that two Chinese policy banks, including the China EximBank, would each set up a 350 billion yuan financing window, and an additional 80 billion yuan would be injected into the Silk Road Fund.
Reference Link:- https://english.news.cn/20240717/b11cd9b3040f41e1b741fbd4ac3c4783/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
