Standard Chartered Bank has reiterated its commitment to the Belt and Road Initiative (BRI) to enhance the development of Africa, Asia and Middle East and the global economy at large.
The Chief Executive Officer (CEO) of the Bank, Mrs Mansa Nettey disclosed this during the Standard Chartered BRI, the first-ever global running event spanning the Belt and Road initiative, which stopped in Accra on April 18, 2019.
Standard Chartered Bank recently announced the launch of the Standard Chartered BRI.
It is a Chinese investment initiative which was launched in 2013 and aims to invest in infrastructure and development and also to build new trade routes over the land and sea, in Africa, Asia, Middle East and Europe.
Activities for the Relay in Ghana included a 10-kilometre run at the University of Ghana, Legon and interaction with clients and Chinese interests.
Mrs Nettey said Standard Chartered was committed to supporting the initiative to help improve businesses in Africa, Asia and Middle East markets.
The Bank, she said, in 2017 committed additional financing for Belt and Road projects of at least $20 billion by 2020 and was involved in more than 50 Belt and Road Deals worth more than $10 billion across a range of products and services.
“We are very excited to be participating in the first-ever Belt and Road Relay. The Belt and Road initiative is strongly aligned to the footprints of the Bank with its deep-rooted history across Africa, Asia and the Middle East. As a key market in the African Region, Ghana has been a supporter of the Belt and Road Initiative since its inception and is very well positioned to help clients leverage on the Belt and Road opportunities,” she said.
She said the Relay was to highlight the Bank’s continued commitment to Belt and Road, and the positive impact of the initiative to communities and businesses globally.
Mrs Nettey indicated that the Relay was led by eight staff athletes from Standard, selected from the Bank’s diverse footprint across Asia, the Middle East, Europe and the Americas.
The Associate Director, Global Banking, Standard Chartered China, Li Xiaoqi Henry said most African economies were embracing the BRI.
He said the BRI was helping to improve infrastructure, especially in Africa, saying about 200 Chinese companies were investing under the BRI in Kenya.
Standard Chartered Bank and Road Relay kicked off in Hong Kong on February 17, 2019 and will make a stop in Ghana on April 18 and collude in China on May 1 after the Belt and Road Forum.
By Kingsley Asare