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