November 27, 2017 / 9:08 AM / in a year

China pledges over $3 billion for CEE investment projects

BUDAPEST (Reuters) - China will provide funding worth over $3 billion for development and investment projects in Central and Eastern Europe, Chinese Premier Li Keqiang said on Monday.

Chinese Premier Li Keqiang gestures at Malacanang Palace in metro Manila, Philippines November 15, 2017. REUTERS/Dondi Tawatao

“Under the auspices of China-CEEC interbank association to be inaugurated today, China Development Bank will provide 2 billion euro ($2.39 billion) equivalent of development financial facility,” he said at the sixth Summit of Heads of Government of Central and Eastern European countries and China.

“The second stage of China-CEEC investment cooperation fund has been launched with a capitalization of $1 billion, most of which will be channeled to CEE countries,” he added through an interpreter.

($1 = 0.8375 euros)

Reporting by Gergely Szakacs and Marton Dunai; Editing by Toby Chopra

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