Comenrzbank has confirmed a multi-billion dollar cooperation with the Chinese bank

The second largest credit institute in Germany aims to support projects worth $ 5 billion over the next five years.

This amount will be spent on the trade route to improve the Nikolaus Giesbert, member of Commerzbank's board of directors, said that this operation cooperates in the sense of supporting German and European companies in their investments in China , as well as Asian companies in their activities in the so-called old continent.

The entity intends to offer loans, commercial financing and insurance against currency fluctuations, as well as advice to businesses. on the capital market, for example in the issue of securities.

China hopes to revitalize foreign trade through the new Silk Road, for which it invests billions of dollars in railways, ports and roads.

This revitalization could face the situation of trade war triggered by the United States, especially against China and by the imposition of customs duties.

mgt / rfc