25.8 C
Delhi
Friday, April 4, 2025

Banking Development issues bonds for urban infrastructure construction

Date:

Share post:

Donate-GC-Razorpay

Beijing: China Development Bank, one of the country’s policy banks, has issued special financial bonds worth 20 billion Yuan (about 2.84 billion US dollars) to promote urban infrastructure projects.

According to the bank, the monies raised will be utilized mostly for significant urban infrastructure projects such as civic facilities and public services. It seeks to direct social revenues towards investments in urban infrastructure through market-based financing, as well as to promote the harmonious cohabitation of people and nature in cities.

The bonds, which have a 10-year term and a 2.82 percent interest rate, were highly oversubscribed by market investors.

Related articles

President Trump announces 26 pc ‘discounted reciprocal tariff’ on India

Washington/New Delhi: US President Donald Trump announced a 26% "discounted reciprocal tariff" on Indian imports, while describing the...

US stocks rise on optimism ahead of Trump tariff rollout

New York: U.S. stocks ended higher on Wednesday, as investors were waiting for U.S. President Donald Trump's tariff...

Italian PM criticizes US decision to impose tariffs on EU

Rome: Italian Prime Minister Giorgia Meloni on Wednesday night criticized U.S. President Donald Trump's decision to impose tariffs...

WHO faces 2.5 bln USD funding gap as US announcing withdrawal

Geneva: The World Health Organization (WHO) is facing a budget gap of 1.9 billion U.S. dollars for 2026...