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Banks

China Eximbank had over 520 bln yuan in loans to One Belt, One Road countries at end-2015

BEIJING (Reuters) - China’s Export-Import Bank said it had more than 520 billion yuan ($78.93 billion) in outstanding loans to countries involved in the “One Belt, One Road” megaproject at the end of 2015.

The loans cover over 1,000 projects in 49 countries, the bank said in a news release on Thursday.

The government’s initiative seeks to create a modern Silk Road to boost trade by connecting countries on three continents from China to Europe.

Reporting by Shu Zhang; Editing by Kim Coghill

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