China to set up new USD 3 billion fund for CEEC

China to set up new USD 3 billion fund for CEEC

BELGRADE -- China's PM Keqiang has said his country will establish a new investment fund worth USD 3 billion available to Central and Eastern European countries (CEEC).

The fund will be used in new ways, through public-private partnerships and leasing, he told the Economic Forum held as part of the China-16 CEEC Summit in Belgrade on Tuesday.

Some USD 1.7 billion remain from the previous credit line, which is still available to the CEEC, and China will try to reduce the cost of those loans, he noted.

China has the resources needed for investments and this part of Europe has a growing need for infrastructure development, he pointed out.

Li hopes Chinese investors will be able to set up factories in Serbia that will produce the material needed for the development of infrastructure, which will create new jobs.

If the CEEC use their potential, the global economy will overcome its problems, he remarked.

A China-CEEC business council will be formed and it will be a new step and a new stage in cooperation between the two sides, he said.

Cooperation between China and the CEEC should be raised to the next level and provide even more benefits, he stated.