China offers $10b credit for co-op with central, eastern Europe

BEIJING -- Enterprises from China and central and eastern Europe have signed many cooperation deals taking advantage of a specific credit of $10 billion offered by China, a Foreign Ministry spokesman said Friday.

Spokesman Hong Lei made the remarks at a regular press briefing when asked to confirm if China had provided the specific credit to the central and eastern European countries.

China introduced a plan to proceed with the loans during a meeting of the Secretariat of China-Central and Eastern European Cooperation held earlier this week in Beijing, Hong said.

Premier Wen Jiabao said at an April meeting in Poland with the leaders of 16 central and eastern European countries that the Chinese government would set up a credit of $10 billion to fund cooperative projects, such as infrastructure construction.

"China hopes to push forward all-around cooperation with central and eastern European countries in order to serve the development of both sides," Hong said.