July 18, 2018 / 5:00 PM / a year ago

Commerzbank and ICBC sign MoU to support silk road trade- FAZ

FRANKFURT, July 18 (Reuters) - Germany’s Commerzbank has signed a memorandum of understanding with China’s ICBC to fund $5 billion worth of projects along the so-called silk road, Germany’s Frankfurter Allgemeine Zeitung said on Wednesday.

The partnership will involve funding projects, underwriting trade finance, and providing loans to projects along the silk road, a Chinese initiative linking Eurasian countries, FAZ said.

Commerzbank declined to comment. (Reporting by Edward Taylor Editing by Alexandra Hudson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below