CDB Capital to Raise 100B ¥ for PPRD Cooperation and Development Fund

Updated:2017-09-30 09:19:51

A Provincial-Ministerial Consultative Conference on Deepening Pan-Pearl River Delta Regional Cooperation (PPRD), which is part of the 2017 PPRD Chief Executive Joint Conference, was held in Changsha on 25 September. It was announced that the PPRD Cooperation and Development Fund would be established with the support and guidance of the National Development and Reform Commission, the PPRD "9+2" parties, and the China Development Bank (CDB). The CDB Capital Co., Ltd. will lead efforts to raise 100 billion yuan for the development fund to support PPRD cross and inter-regional industrial upgrades and innovative development. The first phase goal is to raise 10B ¥.

  The fund-raising methods include direct equity investment, mezzanine investment, and regional or industrial sub-fund. Targeted support and investment will be given according to the different provincial and autonomous regional industrial characteristics and advantages within the PPRD. Considerations include traditional industry upgrading, cultivating strategic emerging industries, major infrastructure construction, regional interconnectivity, “Belt and Road” Initiative construction, and public service improvement of high-quality PPP projects and the people’s livelihood. The fund delivery will take into account all “9+2” parties. Less developed areas will be favored at the sub-fund level.