China pledges over US$100bn for One Belt, One Road
Chinese president Xi Jinping has pledged to invest Rmb840bn (US$124bn) in One Belt One Road (OBOR) projects to build ports, roads, rail and industrial facilities connecting China to Europe.
At the Belt and Road Forum in Beijing, Rmb100bn (US$14.5bn) was confirmed to augment the Silk Road Fund while Rmb380bn (US$55.1bn) will be used for loans for infrastructure and development projects from Chinese policy banks.
Additionally, Rmb300bn (US43.5bn) will be used to conduct overseas yuan fund business and Rmb60bn (US$8.7bn) is set for aid for developing countries and international organisations.
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