December 14, 2015 / 1:52 PM / 4 years ago

China pledges $2 bln for "capacity cooperation" fund with Kazakhstan - Xinhua

BEIJING, Dec 14 (Reuters) - China’s “Silk Road” infrastructure fund has agreed to contribute $2 billion to a new investment fund to support “capacity cooperation” with Kazakhstan, Xinhua news agency reported on Monday.

The $40 billion “Silk Road” fund, set up last year to boost connectivity across Asia, has signed an agreement with a Kazakh government agency on setting up the new fund, Xinhua said.

The fund will “support capacity cooperation between China and Kazakhstan and investment in related projects”, Xinhua said without giving further details.

China has been trying to promote similar cooperation with other countries, under which local firms export some of their huge production capacity as they build infrastructure and factories overseas.

Chinese Premier Li Keqiang held talks with his Kazakh counterpart Karim Massimov in Beijing on Monday, vowing to step up bilateral cooperation in industrial capacity, agricultural products, energy and regional connectivity, Xinhua said. (Reporting by Kevin Yao; Editing by Hugh Lawson)

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