China’s State Development Bank one billion U.S. dollars to set up the China-Africa Development Fund
From: Fund China
China launched Tuesday one billion U.S. dollars in the China-Africa Developme nt Fund to support Chinese companies to invest in Africa, This will strengthen the global economic growth has been most rapid in China and the abundant resources of the African continent between economic ties.
African Development Fund this year in May in Shanghai at the African Development Bank meeting announced the launch. According to the Great Hall of the People held a launching ceremony of the publication of notice African Development Fund are expected to total will be gradually increased to 50 billion dollars.
Notice that the Fund is launched “China-Africa economic cooperation milestone.”
The Chinese company will fund its projects and other equity investments, including convertible bonds and preference shares.
Target investment sectors include : agriculture and manufacturing, infrastructure, oil, gas and minerals and other natural resources. Chinese companies and the establishment of the industrial park.
The fund is administered by China Development Bank injection The visit was mainly responsible for the investment in China’s infrastructure projects. State Development Bank in recent years in overseas projects, and support for large companies in China’s overseas expansion.
Copyright Fund China 2008.
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