China pledges $20 billion loan package for Middle East

By MG News | July 10, 2018 at 12:01 PM GMT+05:00

0:00

Chinese President Xi Jinping has pledged a package of twenty billion dollars in loans and 1.6 billion in financial aid to countries in the Middle East, to revive economic growth in the region.

Talking with representatives of 21 Arab nations in Beijing, Xi Jinping said that development is key to resolving many security problems in the Middle East.

Beijing has ramped up engagement in the Middle East in recent years as Arab nations play an important role in Chinese President's signature Belt and Road foreign policy plan for strong trade routes linking China with central and southeast Asia.

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