Vientiane Times (China▪Yunnan, May 27, 2016)
Recently, insurance and loan agreements of the diplomatic compound project invested by the Lao Krittaphong Group were officially signed.
Diplomatic compound project is jointly invested by both the Krittaphong Group and the Lao Foreign Ministry. The ICBC Vientiane branch offered 52 million US dollars in loans, while the SINOSURE Yunnan branch provided loan guarantees. Yunnan Construction Engineering Group, as the EPC general contractor, guarantees the fast and effective construction. The project, after completion, will serve as an important venue for the 2016 ASEAN Summit, to be hosted by Laos.
The financing cooperation of this project creates a new model of overseas financing services by Chinese financial institutions, and offers a new financing solution for Chinese enterprises in Laos, as well as for local Lao enterprises.
(Yunnan Construction Engineering Group)