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Chinese state banks in Greek billion dollar deals

China Development Bank and other state-owned banks in China have signed major financing deals with Greek shipping interests.

Stock-listed Greek  container carrier Costamare has landed a financing deal with China Development Bank worth up to USD 1.5 billion. The deal, which will be used to finance five newbuildings, was finalized in relation to Chinese Prime Minister Li Keqiang's visit to Greece this past week.

The Chinese state bank has also provided capital to the Greek Ministry of Shipping for expanding the Port of Piraeus.

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