BEIJING: The Export-Import Bank of China (China EximBank) has launched financial bonds to boost cooperation for the Belt and Road Initiative (BRI) in both interbank and over-the-counter markets.
This is the first time such bonds, maturing in three years, are being traded beyond the interbank market, with the funds raised aiming at supporting China EximBank’s BRI projects, according to the bank.
As a policy bank supporting China’s foreign trade, investment and international economic cooperation, the China EximBank has so far issued 39 billion yuan (about 5.47 billion U.S. dollars) of financial bonds to promote BRI cooperation.
To boost financing for the BRI project, China announced last October that two Chinese policy banks, including the China EximBank, would each set up a 350 billion yuan financing window, and an additional 80 billion yuan would be injected into the Silk Road Fund.
