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Silkroad International Bank starts business in Djibouti

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Silkroad International Bank starts business in Djibouti

Silkroad International Bank, the first Chinese overseas commercial bank set up under the "One Belt, One Road" initiative, officially started business in Djibouti, the capital city of the Republic of Djibouti, ce.cn reported on Jan. 18.

The move marks the first time a Chinese institution has obtained a full bank license in an African country, and the lender will be the main bank for trade clearance and fund transfers for Chinese corporates operating in the country.