China’s policy bank offers over USD3 billion loans

BEIJING (Xinhua) – Chinese policy bank China Development Bank (CDB) has issued loans worth USD3.2 billion to 40 African financial institutions.

The CDB has partnered with 10 member banks of the China-Africa Inter Bank Association (CAIBA) and has issued loans of roughly USD1.8 billion for 16 projects in infrastructure, small and medium-sized enterprises and other fields.

Led by the CDB, the CAIBA was established in September 2018, whose members include the Chinese policy bank and 16 African financial institutions.