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CDB Belt Road loans now more than 30% of global business
The figures were given by CDB chairman Hu Huaibang, who says the Belt and Road initiative is a focus of the bank's international operations, for both business expansion and risk control.
Michael Marray 22 Mar 2017

China Development Bank approved US$160 billion worth of loans to countries along the Belt and Road, as of year-end 2016. The loans already on the balance sheet totalled US$110 billion, which accounted for more than 30% of the bank's international business.

The figures were given by CDB chairman Hu Huaibang in an interview with China Daily posted on the CDB website, in which he stressed the importance of serving the Belt and Road Initiative as a focus of the bank's international operations, highlighting both business expansion and risk control.

In the UK, CDB is supporting the Hinkley Point C nuclear power station, which is being developed by EDF of France and China Guangdong Nuclear Power Group. CDB will provide long term and medium term loans to China Guangdong Nuclear Power to cover 80% of its investment in the project. Construction will begin in 2019.

In Indonesia, CDB will provide loans to cover about three-quarters of the US$5 billion investment cost of the Jakarta-Bandung High-Speed Railway, which is expected to be operational in 2019.

The bank is also supporting the China-Russian petroleum and gas project, and the Central Asian natural gas pipeline.

CDB is also helping countries with their planning on national development programmes. These include plans for the Suez Canal Economic Corridor.

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