The Sun (Malaysia)

CHINA’S €10B FUND FOR CENTRAL, EASTERN EUROPE

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BEIJING: China has set up a €10 billion (RM46.6 billion) investment fund to finance projects in Central and Eastern Europe, Industrial and Commercial Bank of China said in a statement yesterday. The China-Central Eastern Europe Fund will be run by Sino-CEE Financial Holdings Ltd. The fund is aiming to raise €50 billion in project finance for sectors such as infrastruc­ture, high-tech manufactur­ing and consumer goods. It will be government-backed but will operate under business principles and be guided by the market. – Reuters

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