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China Pledges $10 Billion In Credit For Central, Eastern Europe

Polish Prime Minister Donald Tusk welcomes his Chinese counterpart, Wen Jiabao, at a meeting of European prime ministers in Warsaw.
Chinese Prime Minister Wen Jiabao has announced a $10 billion special credit line for Central and Eastern Europe to support cooperation projects in infrastructure, new technologies, and green economies.

Wen spoke at the opening of a business forum of hundreds of business people from China and Central Europe in Warsaw.

The Chinese leader, who is winding up a four-nation European tour with earlier stops in Iceland, Germany, and Sweden, also announced plans for a $500 million fund to help Chinese business ventures in the region.

Wen said Beijing wanted to see bilateral trade with Central and Eastern Europe to rise from $52.9 billion in 2011 to $100 billion by 2015.

Wen was due to meet with more than a dozen prime ministers from the region in the Polish capital later on April 26.

Based on reporting by AFP, AP, and Reuters