FUZHOU, May 20 (GCTL) - Ten billion yuan (1.6 billion U.S. dollars) will support projects related to China's maritime Silk Road development, according to relevant parties on Monday.
The city government of Fuzhou, capital of east China's Fujian Province, signed an agreement with the China Africa Development Fund (CAD Fund) and the Fujian branch of the China Development Bank to jointly set up a fund.
Yuan Jianliang, governor of the bank's Fujian branch, said the three parties will support projects that will boost Fuzhou's role as a hub of the Silk Road.