Commercial Bank of China

The Industrial and Commercial Bank of China is interested in financing a commercial project for the construction of the Belene NPP, reported the government press centre.

The Turkish unit of Chinese lender ICBC completed a 450 million Turkish Lira ($132.55 million) swap transaction at the end of November, banking sources said on Dec. 8, marking the first such deal under an agreement between the two countries.

China has set up a 10 billion euro ($11.15 billion) investment fund to finance projects in Central and Eastern Europe, Industrial and Commercial Bank of China said in a statement issued on Nov. 6.

The China-Central Eastern Europe fund will be run by Sino-CEE Financial Holdings Ltd, a company established by the bank earlier this year.

State-owned Bulgarian Development Bank (BDB) and the Industrial and Commercial Bank of China (ICBC) have signed a memorandum of understanding that aims to encourage future cooperation in cross-border funding, bilateral loans, investments and trade, the BDB said on Wednesday.

The Industrial and Commercial Bank of China (ICBC) is likely to become the single company to make a binding offer th the Bulgarian Energy Holding (BEH) as the energy structure is looking for a loan of EUR 650 M to pay off debts.

Bank of China will seek approval to expand its operations in Turkey, highlighting efforts by the two countries to boost business ties, according to sources familiar with negotiations.

Former Energy Minister Hilmi Güler said it was through head hunters that he became a board member of Turkey's Tekstilbank, a majority stake of which was acquired by China's Industrial and Commercial Bank of China (ICBC). 

Chinese authorities have given Industrial and Commercial Bank of China approval to buy a 75.5 percent stake in Turkey?s Tekstilbank, the Turkish lender said on March 20, bringing the $316 million deal closer to completion.

Romanian Deputy Prime Minister Liviu Dragnea announced on Monday that the Industrial and Commercial Bank of China will fund the projects agreed by the Romanian and Chinese prime ministers a year ago, with the first investments to be made in a coal-based heating plant at Rovinari and the Cernavoda Nuclear Power Plant's units 3 and 4.

Minister of Economy, Constantin Nita, will conduct between June 6-13 an official visit to the People's Republic of China.