China Eximbank, a major policy lender, plans to nearly double its loans for local investments in Southeast Asia, state media and a spokeswoman said Wednesday.
The bank will earmark up to five billion dollars for Southeast Asian projects, on top of 6.3 billion dollars already extended in loans for ventures in the region, the Xinhua news agency said.
The bank's decision follows a pledge on the loans made by Premier Wen Jiabao while meeting with leaders of the 10-nation Association of Southeast Asian Nations in December last year, Xinhua reported.
"Profits are the first consideration of course," a spokeswoman told AFP, when asked about the priorities guiding the loans. She said that in principle any company could apply for a loan, regardless of industry.
The loans will be given at certain preferential interest rate to companies with good credit record and profitability to ensure proper financial returns and prevent risks, the official website of the bank said.
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