China’s Xi Pledges $40 Billion for Silk Road Infrastructure Fund
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Chinese President Xi Jinping pledged $40 billion to set up a Silk Road Fund that will finance the construction of infrastructure linking markets across Asia.
The fund’s goal is to “break the connectivity bottleneck” in Asia, the official Xinhua News Agency cited Xi as saying during a meeting with officials from Bangladesh, Cambodia, Laos, Mongolia, Myanmar, Pakistan and Tajikistan. Representatives from the United Nations Economic and Social Commission for Asia and the Pacific and the Shanghai Cooperation Organization were also present, according to Xinhua.