Tianjin Rural Commercial Bank (TRCB) singed an agreement with Beijing Rural Commercial Bank (BRCB) to start a syndicated loan of 2.5 billion yuan ($394.5 million) to support railway transportation in Beijing, Tianjin, and Hebei. It was the first cross-regional syndicated loan among institutions in the area.

Echoing the financing need of the Tianjin Railway Group, the TRCB negotiated with BRCB to launch a syndicated loan. Each side will take on 50 percent of the loan and provide 2.5 billion yuan ($394.5 million) to support the Tianjin Binhai Fast Transportation Development Company for the city’s railway transportation.

The loan is expected to improve transportation infrastructure in Tianjin.

TRCB, BRCB, and Rural Credit Cooperative of Hebei singed an agreement on strategic cooperation in financial services. The agreement aimed to provide more capital support and financial services to cross-regional projects such as relocated corporations, shopping centers, and demonstrative parks.