Commerzbank and China's ICBC Sign Infrastructure Deal
July 19 2018 - 3:32AM
Dow Jones News
By Nathan Allen
Commerzbank AG (CBK.XE) and Industrial & Commercial Bank of
China Ltd. (1398.HK) have launched a partnership to support
projects relating to China's Belt and Road Initiative, Commerzbank
said Thursday.
The Belt and Road Initiative is an extensive Chinese investment
program that seeks to expand maritime routes and land
infrastructure networks connecting China with Asia, Africa and
Europe.
The new partnership covers project financing, capital markets
and trade finance, and builds on an existing agreement between the
two banks, Commerzbank said.
The German lender said it aims to support Belt and Road
Initiative-related projects with a business volume of $5 billion in
the next five years.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
July 19, 2018 04:17 ET (08:17 GMT)
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