Smederevo Steel Plant, Serbia

　　This is a key demonstration project for BRI cooperation, China-Central and Eastern Europe cooperation, and international industrial capacity cooperation. The project is conducive to the local economy and that of Serbia as a whole, playing an important role in improving people’s lives and livelihoods in Serbia. Directly creating more than 1,000 local jobs, the project is of great social significance as well.

　　Apart from overseas investment insurance, SINOSURE extended a financing guarantee of EUR 45 million. Working with several Chinese financial institutions, SINOSURE facilitated a low-cost financing solution for the project's equity transfer and the following technology upgrading. After completion of the acquisition, SINOSURE provided another financing guarantee of USD 80 million to cover the plant’s procurement financing needs.