Kuwait plans to set up a $ 10 billion fund, jointly with China, to invest in the two countries, according to sources familiar with Bloomberg.
Kuwait is studying the establishment of the Kuwait-China Silk Road Fund, which will invest in Kuwaiti projects related to the Silk City and the development of the islands.
Fund funds may be used to invest in China and other areas under the One Belt, One Way initiative.
China will work with Chinese strategic partners to arrange financing for these projects, which could give the fund investment capacity of up to $ 30 billion.
Kuwait is developing its northern region as it seeks to boost non-oil revenues and transform itself into a regional business hub by 2035. The Silk City project is part of this goal
BY ALARABIYA NET
