Mr Norman Chan, Chief Executive of the Hong Kong Monetary Authority (HKMA), visited China Development Bank (CDB) today and met with its President Mr Zheng Zhijie. Mr Chan welcomed CDB’s issuance of its first Belt and Road bond in Hong Kong to finance projects across Belt and Road countries.
“CDB has been an anchor partner of the HKMA Infrastructure Financing Facilitation Office (IFFO), and a Memorandum of Understanding (MoU) was signed between the HKMA and CDB last December to foster closer collaboration via IFFO,” said Mr Chan. “This first ever issuance of Belt and Road bond by CDB in Hong Kong underscores the pivotal role that Hong Kong can play in facilitating the financing of infrastructure projects in the region.”
Established by the HKMA in July 2016, IFFO is committed to facilitating infrastructure investments and their financing by working with a cluster of key regional and international stakeholders. As of today, IFFO has 78 partners.
As part of the HKMA, IFFO’s mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:
By establishing IFFO, the HKMA can play a valuable role as a catalyst in the facilitation of infrastructure investments and their financings with its mandate to promote Hong Kong as an international financial centre.
For more information about IFFO, please visit http://www.iffo.org.hk.
Mr Zheng Zhijie, President of CDB ( right ) greets Mr Norman Chan, Chief Executive of the HKMA (left).
Mr Zheng Zhijie meets with Mr Norman Chan to foster closer collaboration under the strategic collaboration framework established under the MoU. Mr Chan also welcomes CDB’s first issuance of Belt and Road bond in Hong Kong.
Mr Zheng Zhijie and Mr Norman Chan have an in-depth discussion on further co-operation between the two organisations on the Belt and Road Initiative.
Hong Kong Monetary Authority
20 December 2017