Citi to partner with BOC and CMB to cooperate on BRI projects
(24 April 2018 – China) Citi has signed a memorandum of understanding with Bank of China (BOC) and China Merchants Bank (CMB) to explore areas of cooperation for the Belt & Road Initiative.
Potential avenues of cooperation between the three banks include co-financing, financial products, trade, agency and trust and capital markets in regard to various infrastructure projects.
Citi has business coverage in 60 out of 70 Belt & Road markets making it an ideal partner to assist Chinese banks.
“We have a long track record of supporting our Chinese banking clients around the world and recently we have achieved several landmark transactions supporting the Belt and Road Initiative,” said Citi China CEO Christine Lam. “We look forward to continuing our century-long tradition of serving our clients by enhancing partnerships and helping them realize their global ambitions.”