Chinese-funded Silkroad Int'l Bank opens in Djibouti

DJIBOUTI, Jan. 18 (Xinhua) -- The Silkroad International Bank (SIB) opened service in Djibouti on Wednesday in a drive to promote the financial sector development in Djibouti and the entire Africa.

The Silkroad International Bank is the first Chinese-funded enterprise to obtain banking license on the African continent. It is also the first joint venture bank in Djibouti.

Djibouti President Ismail Omar Guelleh, Minister of Finance Ilyas Moussa Dawaleh and the bank's deputy board chairman Luo Feng attended the opening ceremony in the port city of Djibouti.