Agricultural Bank of China Will Furnish USD15 Billion to Build Silk Road
Xu Wei
/SOURCE : Yicai
Agricultural Bank of China Will Furnish USD15 Billion to Build Silk Road

(Yicai Global) Aug. 23 -- Agricultural Bank of China Ltd. [SHA:601288], China Railway Construction Corp.[SHA:601186] and China Government Enterprise Cooperative Investment Fund Management Co. have inked an agreement in Urumqi in China's northwestern Xinjiang Uygur Autonomous Region in a strategic arrangement to jointly provide USD15 billion [CNY100 billion] to build the 'core area' of the Silk Road Economic Belt in Xinjiang, the financial News reported today.

Agricultural Bank will take charge of capital settlement, investment and financing management, foreign currency integration and other general financial services, while vigorously backing major transport infrastructure to support Xinjiang's major transport infrastructure projects to boost the Xinjiang Silk Road economic zone core area construction, per the agreement.

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Keywords: MSCI , China Railway Construction Corp. , B&R