35.1 C
Sunday, July 14, 2024

Banking Development issues bonds for urban infrastructure construction


Share post:


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

Vikravandi bypoll win will be etched in golden words in DMK’s history : Stalin

Chennai: Buoyed by the massive victory in the bypoll to the Vikravandi Assembly seat, Tamil Nadu Chief Minister...

KP Sharma Oli to be sworn in Nepal prime minister on Sunday

Kathmandu: Former Prime Minister and chairman of the CPN-UML party has staked his claim to the post of...

TMC Kalyani wins Raiganj assembly seat by-poll defeating BJP candidate

Kolkata: West Bengal ruling the Trinamool Congress' electoral juggernaut continued to reign for the past two decades in...

On ‘martyrs day’ J&K politicians put under ‘house arrest’, barred from visiting old city

Srinagar: Former chief minister Mehbooba Mufti and several political leaders in Jammu and Kashmir on Saturday claimed that...