FROM EIR DAILY ALERT

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Chinese Group To Invest € 1 Billion in Serbia as Part of the Belt and Road Initiative

June 21, 2018 (EIRNS)—A news item from Tanjug reports that “the Sino-RS Investment Group will invest €1 billion in Serbia as part of the Belt and Road Initiative. The funds will be released through the Shanghai Stock Exchange. The money will be used to fund projects in the areas of transport, energy, telecommunications, agriculture, and construction, some as public-private partnerships.

“ ‘The main focus is on transport, airports, ports, bridges, communications, water supply and drainage in urban and rural areas, as well as electricity supply, agriculture, and basic assets necessary for the provision of non-material goods or services—for science, education, culture and healthcare, according to Sino-RS Investment Group President Jin Frank Li.”

The deal was clinched when Tomislav Nikolic, the head of the President of Serbia’s National Council for Cooperation with Russia and China, met with representatives of the Sino-RS Investment Group in early June, Tanjug wrote on June 5. “The meeting in Belgrade was not the first we had with Nikolic, since we already had one in Shanghai together with representatives of PowerChina and the Shanghai Stock Exchange, whose representatives expressed their readiness to participate in the implementation of the project in Serbia,” Li said.