Financing of joint Kazakh-Chinese projects discussed in Beijing

BEIJING. KAZINFORM - Ambassador of Kazakhstan to China Shakhrat Nuryshev met with CEO of the Silk Road Fund Ms Jin Qi in Beijing to discuss financing of bilateral industrial and investment projects within the framework of the Kazakhstan-China Fund which was established specifically for that purpose, Kazinform correspondent reports from China.

During the meeting, the sides exchanged views on the outcomes of the Belt and Road Forum for International Cooperation that took place in Beijing on May 14-15. President of Kazakhstan Nursultan Nazarbayev attended the high-profile forum along with leaders of nearly 30 countries.

Jin Qi noted that China's decision to contribute an additional 100 billion RMB ($14,7 billion) to the Silk Road Fund announced by President Xi Jinping at the forum will allow to increase the number of joint investment projects.

Ambassador Nuryshev, in turn, emphasized that the Silk Road Fund along with the Asian Infrastructure Investment Bank (AIIB) are the key mechanisms financing projects as part of the One Belt, One Road initiative and commended their importance in terms of implementation of the agreements between Kazakhstan and China.

The Silk Road Fund is a state-owned investment fund of the Chinese government to foster increased investment in countries along the One Belt, One Road, an economic development initiative primarily covering Eurasia. The Chinese government contributed $40 billion for the establishment of the fund back in 2014.