China’s Bank of Communications Financial Leasing (BCFL) has been granted a CNY 1.1bn loan ($150m) to buy three LNG carrier newbuildings at a domestic shipyard.
BRICS’ New Development Bank (NDB) will be providing the loan, making this the first non-sovereign loan it has given to a non-banking financial institution in China, NDB said in a press release.
“The loan funds from this cooperation will be used for the company’s three LNG ships built by Hudong-Zhonghua Shipbuilding Co,” said BCFL’s chairman Xu Bin.
