China intends to allocate additional $ 14.5 billion to the Silk Road Fund, Chinese President Xi Jinping  said at the Silk Road Forum in Beijing, BBC reported.

According to Xi Jinping, Export–Import Bank of China is ready to provide a targeted loan of 130 billion yuan for the development of Belt and Road initiative.

 The China Development Bank is ready to allocate another 250 billion yuan to support the projects of the new Silk Road, the Chinese President added.

Leaders from 29 countries attended the forum in Beijing.