(Yicai Global) Dec. 21 -- China Development Bank issued a USD350 million five-year Belt and Road bond in Hong Kong yesterday via private placement and will use the proceeds to support project construction along the Belt and Road.

The Hong Kong Stock Exchange listed the bond, which was the first Belt and Road bond the CDB issued. Dealers include the Bank of Communications (Hong Kong) Ltd., China Construction Bank (Asia) and HSBC Bank (Hong Kong) Ltd.

As the leading bank serving the Belt and Road and the largest cooperative bank for foreign investment and financing in China, CDB had loaned USD178.9 billion to countries along the Belt and Road as of the end of the third quarter. The bank will further cooperation with Hong Kong on Belt and Road development, facilitating prosperity and stability in the region.

"Hong Kong is well-positioned to be the key services and capital hub for the Belt and Road, and to meet the needs of the relevant projects in investment, funding and financing," Hong Kong Financial Secretary Paul Chan said.