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China's President Xi Jinping speaks during the opening ceremony of the third Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing on October 18, 2023. Xi said October 18 that the Belt and Road infrastructure initiative would aim to "inject new impetus" into the global economy, state media reported, as he addressed a forum of international delegates in Beijing. (Photo by Pedro PARDO / AFP)
China has vowed to increase funding for Belt and Road Initiative (BRI) projects based on market and business operations, President Xi Jinping said.
China Development Bank and the Export-Import Bank of China will each set up a 350 billion yuan ($48.75 billion) financing window, Xinhua news agency reported.
The president said an additional 80 billion yuan will be injected into the state-owned Silk Road Fund for BRI projects.
The Chinese President has announced eight major steps to support high-quality Belt and Road cooperation as part of the 10th anniversary of BRI.
Moreover, Beijing will continue to promote green development, deepening cooperation in sustainable infrastructure, energy and transportation.
In addition, Beijing will step up support for the BRI International Green Development Coalition.
(Writing by P Deol; Editing by Anoop Menon)
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