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China pledges loans of over $20 bln to Southeast Asia.

BEIJING, Muharram 20, 1436, November 13, 2014, SPA -- China on Thursday pledged loans of more than $20 billion to support Southeast Asia's "connectivity construction", China's official Xinhua news agency said, according to Reuters.

The offer, made by Premier Li Keqiang at an East Asia Summit in Myanmar, would provide a $10 billion preferential loan for Association of Southeast Asian Nations (ASEAN) members and a $10 billion loan set up by China Development Bank for "regional infrastructure development", Xinhua said.

--SPA

14:48 LOCAL TIME 11:48 GMT

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Publication:Saudi Press Agency (SPA)
Geographic Code:9CHIN
Date:Nov 13, 2014
Words:101
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