China to fund 85% of Malaysia's revived rail project

China's Export-Import Bank is expected to finance 85% of a 44 billion ringgit ($10.7 billion) rail link project in Malaysia that will bolster economic development in rural eastern states, transport minister Loke Siew Fook said on Thursday. The East Coast Rail Link across peninsular Malaysia was suspended a year ago shortly after Prime Minister Mahathir Mohamad's alliance won a historic election.

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