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ICBC partners with organizations in S'pore to seek opportunities under Belt & Road initiative

by June 7, 2016 General

SINGAPORE, June 7 (Xinhua) — The Industrial and Commercial Bank of China Limited, Singapore Branch (ICBC) and seven organizations signed a series of agreements for strategic cooperation here on Tuesday.

Under the agreements inked during the second RMB Internationalisation Summit, ICBC will provide financing services and look at project structuring to support Singapore companies in China-proposed Belt and Road infrastructure projects across Asia.

“China’s Belt and Road initiative has opened up investment opportunities in infrastructure projects for Singapore companies,” said Chua Taik Him, deputy chief executive officer of International Enterprise (IE) Singapore.

Chua Taik Him added that through this strategic partnership, IE Singapore and ICBC can leverage on each other’s global networks to meet the market opportunities.

The summit also witnessed the launch of ICBC shipping finance centre (Asia Pacific), which marks the first dedicated shipping finance center among Chinese banks in Singapore.