On 6 July, in the presence of Chinese Premier Li Keqiang and his Bulgarian counterpart Boyko Borisov, China Eximbank Vice President Sun Ping and the Chief Executive Officer of Navibulgar, a Bulgarian shipping company, signed a financing agreement worth USD 94.017 million. The agreement involves the provision of financing to the six 45,000-ton energy-saving and eco-friendly bulk carriers that Navibulgar purchased from Chinese shipbuilders. It will also drive China’s ship exports to the tune of USD 130 million. 

The signing of the agreement marks another move by China Eximbank to implement the country’s Belt and Road Initiative. It is also an important achievement made by China Eximbank and relevant enterprises in Central and Eastern European countries under the “16+1 Cooperation” framework. Meanwhile, the agreement will also help attract more ship owners in Central and Eastern Europe to order new vessels from Chinese shipbuilders, and promote continuous development of trade and economic cooperation between China and Bulgaria. Furthermore, Navibulgar is the one of the biggest handymax ship operators in the Black Sea region, with a fleet of over 30 bulk carriers of various types and a history of more than 120 years.