China loans €80 m to Belt and Road projects in Bulgaria

The China Development Bank's Chongqing branch signed a loan contract worth €80 million (US$95.42 million) with the Bulgarian Development Bank recently.

The loan will mainly be used in the Belt and Road projects in Bulgaria and satisfy the Chinese enterprises' need for funds in the country.

According to the banking supervisory bureau of Chongqing, by the first half of this year, the balance of financing of the Chongqing banking industry's support for the enterprises' going out has exceeded 9 billion yuan (US$1.36 billion).