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Deutsche Bank Joins New Silk Road

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EIRNS—Just in time, before Chinese Prime Minister Li Keqiang’s arrival in Berlin for talks with Merkel, Deutsche Bank announced a partnership with China Development Bank for joint projects. This will make Deutsche Bank one of the first foreign lenders to participate directly in China’s New Silk Road infrastructure initiative.

The agreement includes a pledge to finance projects with a scope of up to $3 billion for an initial duration of five years. Deutsche Bank also envisions getting a license from China to issue yuan-denominated loans in the country, which would visibly improve the competitive position of the bank on the Chinese inland market.