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Korean policy bank to invest $130m in Chinese airport project
By Catherine ChungPublished : July 13, 2017 - 15:33
South Korea's state-run Korea Development Bank said Thursday it plans to invest $130 million into a Chinese project for the expansion of the Haikou Meilan International Airport.
KDB will set up a private equity fund to make the investment, the bank said. China's central economic planner approved the project in 2015 to expand the airport in the southern island province of Hainan.
KDB will set up a private equity fund to make the investment, the bank said. China's central economic planner approved the project in 2015 to expand the airport in the southern island province of Hainan.
The project is a part of China's massive "One Belt, One Road" infrastructure drive that aims to increase its economic clout in Asia.
KDB said it will cooperate with China-led regional lender, the Asian Infrastructure Investment Bank, to help local firms make inroads into infrastructure projects in Asia. (Yonhap)
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