Beijing Capital Airport Expansion
Source: Forbes

BEIJING (AFX) - European Union and Chinese officials have signed a 500 Million Euro Credit facility from the European Investment Bank to fund an expansion of Beijing Capital Airport.

The credit for the airport is the largest outside of Europe by the European Investment Bank, EU officials said at the signing ceremony.

Earlier media reports said the low interest rate credit is for a term of 25 years.

Beijing is planning a major expansion of the airport ahead of the 2008 Olympics. The airport operator is listed in Hong Kong.

Officials of the EU and China also signed a series of initial agreements on energy and transport strategy as well as the environment, maritime transport and labor. Details of the accords were not immediately available.