BUSINESS - China pledges US$1 billion loan for neighbouring countries

China has pledged over US$3 billion in loans and aid to its neighbouring countries, including Burma. The Chinese Premier Li Keqiang said the loans will be split three ways, with $1 billion planned for developing infrastructure, $1.6 billion to increase production, and $460 million to alleviate poverty. This will be another incentive for the countries’ neighbouring China to develop regional transport and logistic links as China plans to increase its electricity, telecommunication, steel and cement exports to nearby nations.

SOURCE: The Express Tribune