ASEAN-focused China fund raising up to $3 billion for Silk Road projects: Sources
The planned capital-raising is the latest in a series by China's state-backed firms and comes as the country's landmark Belt and Road scheme has been ploughing billions of dollars into global infrastructure projects.
The China-ASEAN Investment Cooperation Fund (CAF), backed by the Export-Import Bank of China, is currently pitching the fund to prospective investors (Source: AP Photo/File)
A quasi-sovereign Chinese fund focused on Southeast Asia is targeting raising up to $3 billion in a new dollar fund, adding to its firepower for planned investments under Beijing’s “Belt and Road” initiative, people close to the matter said.
The China-ASEAN Investment Cooperation Fund (CAF), backed by the Export-Import Bank of China, is currently pitching the fund to prospective investors, they said. Its plan to raise $1 billion mainly from Chinese state-owned enterprises was already known, but the fund has now tripled the amount it is seeking.
The planned capital-raising is the latest in a series by China’s state-backed firms and comes as the country’s landmark Belt and Road scheme has been ploughing billions of dollars into global infrastructure projects.
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