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

The Sun (Malaysia) - - SUNBIZ -

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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