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Deutsche Bank Backs China’s One Belt One Road
June 14, 2017
Germany’s largest lender Deutsche Bank has announced that it will support China’s development projects by joining hands with China Development Bank (CDB). Both banks have decided to work together for five years and support projects worth $3 billion.
Deutsche Bank and CDB have signed a memorandum of understanding and expressed interest in funding Germany, China, and other Belt and Road Initiative countries.
The “Belt and Road” project was launched in 2013 by Chinese President Xi Jinping to enhance infrastructure linking Asia with Africa and Europe and is set to get a boost from CBD and DB’s partnership.
