The Export Import Bank of China is to fund the $3bn resort project planned by Baha Mar in Nassau, Bahamas.

China State Construction and Engineering will be the general contractor of the project and construction will be carried out with the help of 5,000 Chinese workers.

China State Construction will also invest $150m in the project, according to miamiherald.com.

The project will include properties from Rosewood Hotels & Resorts, Morgans Hotel Group and Hyatt Hotels & Resorts.

The properties, which will comprise 2,250 rooms, are expected to open in 2014.