The China Export and Import Bank (Eximbank) will grant loans of two billion US dollars to the China Minmetals Group (CMG) in the coming three years, according to a strategic cooperation agreement signed here Friday.

The CMG will use the money to support its overseas investment and mine prospecting projects, according to the agreement.

The Eximbank, China's policy bank specially for supporting foreign trade and foreign-related cooperation, has helped many Chinese enterprises with competitive advantages edge into international markets.

The CMG is one of China's largest state-owned enterprises and the country's largest merchant of iron and steel and other mineral products. Over the past few years, the group has expanded its business into such areas as finance, real estate, freight transport and investment.

Source: Xinhua