China proposes USD 10bn investment fund to CEEC

China proposes USD 10bn investment fund to CEEC

They include "defining the roadmap for fostering cooperation, promoting synergy in constructing infrastructure, establishing a USD 10 billion investment fund and expanding trade in agricultural products from CEE countries."

Previously at the opening of the economic and trade Forum, Li said that despite the economic crisis, trade between China and 16 CEEC has increased, the Serbian government said in a statement carried by Tanjug.

"Recently, I attended the opening of a bridge in Serbia and this is the first large project in CEE countries. We want more such projects," Li said.

China proposes the setting up of a financial company that would finance projects in Central and Eastern European countries (CEECs), the Chinese prime minister said.

Addressing the leaders of the 16 countries of Central and Eastern Europe at the summit in the Chinese city of Suzhou, Li said that Beijing was ready to cooperate with all sides on exploring possibilities for establishing the joint (16+1) financial company that would back the cooperation.

"We can secure funds for the CEECs in line with our needs. As long as the projects use Chinese products and Chinese equipment, China is ready to secure financial assistance at low cost," Li said.

According to him, China's biggest bank, the Industrial and Commercial Bank of China, and Export-Import Bank of China will have a leading role in boosting lending.

Serbia is among the first countries to candidate for a USD 10 billion credit line for promoting cooperation between China and CEE countries and the leading country in this part of Europe in realization of infrastructure projects with China, Serbian PM Aleksandar Vucic stated on Tuesday.

Addressing the summit in Suzhou, he said that Serbia and China are implementing projects of construction of energy and traffic infrastructure totaling USD 1.5 billion.

Vucic underlined that Serbia supports China's initiative for strengthening cooperation with CEE countries, reads a statement by the Serbian government.

Serbia wants to become one of the crucial trade hubs in this part of Europe being part of the Belt and Road Initiative. This is a development chance for Serbia, Vucic said.