IV. Enhance Financial Cooperation, Promote Financial Connectivity
1. The Silk Road Fund will expand by 100 billion yuan.
2. China encourages financial institutions to conduct Overseas Fund Business in renminbi with the estimated amount of about 300 billion yuan, providing financing support for the Belt and Road Initiative.
3. The National Development and Reform Commission of China will set up the China-Russia Regional Cooperation Development Investment Fund, with a total scale of 100 billion yuan and the initial scale of 10 billion yuan to promote cooperation between China's Northeast and Russia's Far East.
4. The Ministry of Finance of China signed the memoranda of understanding on collaboration on matters of common interest under the Belt and Road Initiative with the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the New Development Bank and the World Bank Group.
5. The Ministry of Finance of China will establish the Multilateral Development Finance Cooperation Center together with the multilateral development banks.
6. The China-Kazakhstan Production Capacity Cooperation Fund came into operation, and the framework agreement of cooperation was signed regarding full support of Chinese telecom companies' participation in the "Digital Kazakhstan 2020" Program.
7. The Silk Road Fund and the Interbank Association of the Shanghai Cooperation Organization agreed on the signing of the Memorandum of Understanding on the Basis of Partnership. The Silk Road Fund and the National Bank for Foreign Economic Activity of Uzbekistan signed the cooperation agreement.
8. The China Development Bank will set up the Belt and Road Multi-currency Special Lending Scheme for Infrastructure Development (100 billion yuan equivalent), the Belt and Road Multi-currency Special Lending Scheme for Industrial Cooperation (100 billion yuan equivalent), and the Belt and Road Multi-currency Special Credit Lines for Overseas Financial Institutions (50 billion yuan equivalent).
9. The Export-Import Bank of China will set up the Belt and Road Multi-currency Special Lending Scheme (100 billion yuan equivalent) and the Belt and Road Multi-currency Special Lending Scheme for Infrastructure Development (30 billion yuan equivalent).
10. The China Development Bank signed a Subscription Agreement for the Sino-French SME Fund II with Bpifrance, and signed a Memorandum of Understanding on the Sino-Italian Co-Investment Fund with Cassa Depositi e Prestiti, and conducts financing and bond underwriting cooperation with the Tejarat Bank of Iran, Banque Misr of Egypt, Hungarian Development Bank, Metrobank of the Philippines, Ziraat Bank of Turkey, Raiffeisen Bank International of Austria, Canadia Bank of Cambodia, and Maybank of Malaysia.
11. The Export-Import Bank of China signed framework agreements regarding lines of credit with Export-Import Bank of Malaysia, Export-Import Bank of Thailand and other Asian EXIM Bank Forum members, and will conduct practical cooperation in areas of on-lending and trade finance.
12. China Export and Credit Insurance Corporation signed cooperation agreements with the export credit agencies in Belarus, Serbia, Poland, Sri Lanka and Egypt, signed framework agreements with the relevant government departments, including the Ministry of Investment and International Cooperation of Egypt, the Ministry of Finance of the Lao PDR, the Ministry of Economy and Finance of Cambodia, the Investment Coordinating Board of Indonesia, Polish Investment and Trade Agency, National Treasury of Kenya, the Central Bank of Iran and the Ministry of Finance and Economic Affairs of Iran, and signed framework agreements with financial institutions, including the Saudi Fund for Development, Isbank and Garanti Bank in Turkey, and the United Bank in Pakistan.
13. The People's Bank of China and the International Monetary Fund (IMF) will jointly set up "the IMF-China Capacity Building Center" to provide training to the countries along the Belt and Road.
14. The Export-Import Bank of China and the United Nations Industrial Development Organization signed a joint declaration on enhancing cooperation on sustainable industrial development in the countries along the Belt and Road.
15. The Asian Financial Cooperation Association has been officially established.
16. The Industrial and Commercial Bank of China and major commercial banks in Pakistan, Uzbekistan, Austria and other countries along the Belt and Road will jointly launch the Belt and Road Action Plan for Banking Cooperation, and establish a regular cooperation and exchange mechanism for banks along the Belt and Road.
