China intends to allocate additional 100 billion yuan ($14.5 billion) for projects within the framework of the “One Belt, One Road” initiative, Chinese President Xi Jinping said.
These funds will be invested in infrastructure projects of the Silk Road Fund established in 2014.
The head of China called the economic belt of Silk Road and the maritime Silk Road of the 21st century “a project of the century", which will provide benefit to people around the world, MoneyControl reports.
In addition to investments in the Fund, according to Xi Jinping, the Export and Import Bank of China (Exim Bank) is ready to allocate a loan in the amount of 130 billion yuan for the development of “One Belt, One Road” projects.
