BOC raises $4b for Belt and Road projects

BEIJING -- Bank of China said on Thursday it had successfully raised the equivalent of $4 billion from the international bond markets for the Belt and Road Initiative.

The money will support projects to boost infrastructure links between Asia and Europe.

This is the biggest amount of bonds issued at one time by the Bank of China abroad, in four currencies -- yuan, US dollar, Singapore dollar and euro.

Through its overseas branches, Bank of China raised $2.3 billion, five billion yuan, 500 million euros and S$500 million.

The bonds contain fixed interest securities and floating interest, with diversified terms to maturity.

Bank of China plans to increase its credit scale to $100 billion in the coming three years for Belt and Road projects.