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China launches 10 bln euro fund for Central, Eastern Europe

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Baku, November 7 AZERTAC

China has set up a 10 billion euro ($11.15 billion) investment fund to finance projects in Central and Eastern Europe, Industrial and Commercial Bank of China said.

According to Reuters, the China-Central Eastern Europe fund will be run by Sino-CEE Financial Holdings Ltd, a company established by the bank earlier this year.

The company was formally launched by Premier Li Keqiang during his visit to Riga, Latvia, on Saturday.

The fund is aiming to raise 50 billion euros in project finance for sectors such as infrastructure, high-tech manufacturing and consumer goods, the bank said.

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