SDB Provides Loan to China Unicom

China's State Development Bank ( SDB) signed a contract with China Unicom, the country's second- largest state telecommunications operator, Wednesday in Beijing to provide a loan of 10 billion yuan (about 1.2 billion U.S. dollars) to the latter.

This is the largest-ever loan granted by the SDB to support the development of the country's telecommunications, said an official with the bank.

The loan will play an important role in the network construction of China Unicom and help the telecom operator get listed on overseas stock exchanges.

The bank is also expected to further support the national economic development by cooperating with big companies in the petrochemicals, railways, civil aviation and electric power industries.

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