Aid, loans will help nations taking part

China's offer of 60 billion yuan ($8.7 billion) in financial assistance through free aid and loans without interest will help participants of the Belt and Road Initiative meet their target for sustainable development, the Ministry of Commerce said on Monday.

The assistance, which will be in place in the coming three years, will enable the participating countries to achieve the United Nations 2030 Agenda for Sustainable Development, the ministry's department of foreign assistance said in a statement.

The ministry's comment came after the central government announced on Sunday that the country will offer assistance to developing countries and international organizations participating in the initiative to improve the well-being of people in those nations as well as sustainable growth.