China Development Bank boosts China-Europe Railway Express with additional $4b loan

China Development Bank announced on Tuesday the establishment of a 30-billion-yuan ($4.22 billion) special-purpose loan dedicated to the China-Europe Railway Express.

The announcement was made at the second China-Europe Railway Express Cooperation Forum held on Tuesday in Xi'an, the capital of northwest China's Shaanxi province.

The funds will be earmarked for supporting corridor development, port construction, hub infrastructure, supporting facilities, as well as the operations of relevant enterprises, the bank said in a statement.

In the first three quarters of this year, the bank has disbursed 7.59 billion yuan in loans to China-Europe Railway Express projects.