SHANGHAI, March 23 China Development Bank (CDB)
said on Thursday it has agreed to provide China's transport
ministry with at least 2 trillion yuan ($290.38 billion) of
financing support to aid the building of roads, bridges and
tourism infrastructure through to 2020.
The CDB signed a cooperation agreement with China's Ministry
of Transport for the investment, which will also support the
building of transport infrastructure overseas, according to a
statement on the bank's website.
The CDB pledge indicates that a government infrastructure
spending spree that started last year is likely to continue.
That would provide a potential boost for China's economy which
has started off strong in 2017, supported by higher bank lending
and a stronger-than-expected expansion in fixed asset
Overseen by China's State Council, the China Development
Bank is one of the country's three policy banks and primarily
provides financing support to large infrastructure projects such
as the Three Gorges Dam.
The CDB said at the end of 2016 it had disbursed more than 5
trillion yuan in loans for roads, railways, aviation and ports.
($1 = 6.8876 Chinese yuan renminbi)
(Reporting by Brenda Goh; Editing by Christian Schmollinger)