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China promises 2 billion dollars in investments for Eastern Europe

Chinese Premier Li Keqiang announced today in Budapest that the Chinese Development Bank will offer $ 2 billion for investments in Central and Eastern Europe.

Budapest, Nov. 27 (EFE) .- Chinese Premier Li Keqiang announced today in Budapest that the Chinese Development Bank will offer $ 2 billion for investments in Central Europe and Oriental.

"The Chinese Development Bank will secure 2,000 million dollars for a development fund from the countries of the region," the Asian head of government announced today. first day of a meeting in Budapest of China and 16 other countries of Central and Eastern Europe.

The summit is the sixth annual meeting of the so-called "16 + 1", a platform that brings together eleven Member States of the European Union (EU) and five Eastern European countries.

Li also advanced the launch of "the second stage of the cooperation and investment fund, with a value of 1,000 million dollars ", although without specifying when these two financing projects would be put into operation.

The Chinese Premier inaugurated today with his host Hungarian, the conservative Viktor Orbán, the China-Central and Eastern Europe business forum, which runs parallel to the meeting of heads of government.

Li stressed the importance of these summits since they "unite the two ends of the Eurasian continent", accentuating the importance of "the opening of the markets".

At the same time, Orbán said that Europe needs Beijing for its progress, since our time is marked by "the rise of Asia and China".

The Hungarian Eurosceptic Prime Minister stressed that this summit benefits not only nations involved "but to the whole of Europe and also to the European Union (EU)."

In recent years Beijing has promoted investments and this diplomatic format to try to exercise influence on Eastern Europe, according to some analysts.

The project is part of the Chinese strategy to promote a new "silk route", known in Chinese with the slogan "a belt, a route ", for the idea of ​​forming a commercial corridor that strengthens relations with the entire Eurasian continent.

With this project China has injected money into infrastructure, logistics and transport networks in Eastern Europe to allow Chinese products to have better access to markets in the region and, above all, to the western part of the continent.

An example of such cooperation is a new train connection between Hungary and Serbia, which will be predictably built with a Chinese loan of 1,750 million euros. euros.

In the Western Balkans, in countries such as Serbia and Bosnia, Chinese investments have been very well received by countries facing reforms to reduce their sector public and that require funding to modernize obsolete infrastructure such as roads, bridges or railways.

Orbán, the host of the summit, has a tense relationship with Brussels and, unlike many Western partners in the EU, maintains good relations with Russia or Turkey as part of a foreign policy marked by the economy.

The 16 + 1 format includes, in addition to China, Albania, Bulgaria, Bosnia and Herzegovina, Czech Republic, Croatia, Estonia, Hungary, Latvia, Lithuania, Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.

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