BEIJING: Central Bank of China announced in a statement that China’s $40 billion ‘Belt and Road’ project, starting this year, has been designed to connect China with various countries.
The Silk Road Fund Co Ltd was established on Dec 29, 2014 in Beijing, after President XiJinping announced the creation of the $40-billion fund in November, according to the People’sBank of China.
The company was jointly funded by China’s foreign exchange reserves, China InvestmentCorporation, the Export-Import Bank of China and China Development Bank.
“The priority (of the company) is to seek investment opportunities and provide investment and financing services during the progress of the Belt and Road Initiatives,” the statement said.
“Belt and Road” refers to the Silk Road Economic Belt and the 21st Century Maritime SilkRoad initiatives proposed by China in 2013 for improved cooperation with countries in a vastpart of Asia, Europe and Africa.
