Accra, Nov. 24, GNA - Officials from Standard
Chartered Bank have held a roadshow in Ghana to outline the benefits and
investment opportunities from China’s Belt and Road initiative (B&R).
The initiative involves China investing
billions of dollars in infrastructure development in countries along the old
Silk Road, linking it with a network of countries in Europe, Asia and Africa.
China’s B&R is a development strategy
launched by the Chinese government in 2013.
Also referred to as the ‘New Silk Road Plan’,
the ‘Belt’ route links China with Europe through Central and Western Asia, and
the ‘Road’ refers to the 21st Century Maritime Silk Road, which connects
China’s ports to Southeast Asian countries, Europe and Africa.
Mr Sebastian Er, Executive Director, The Belt
and Road Strategy Execution Team Standard Chartered Corporate and Institutional
Banking in China, said the Belt and Road (B&R) initiative as defined by
China covers more than just infrastructure development.
He posited that the initiative was to build
synergies in development strategies and policies, promote the construction of
economic corridor, enhance major projects cooperation and enlarge financial
According to him Africa was an important
direction and a goal of the Initiative, saying that, the project would bring
unprecedented opportunities to the development of China-Africa cooperation.
Standard Chartered has been at the forefront
of this journey, partnering with Chinese authorities and supporting global
clients in leveraging the opportunities of B&R.
He said the vision also includes facilitating
trade and financial cooperation.
“With considerable branch presence in the
B&R countries and substantial on-the-ground experience, Standard Chartered
is well positioned to provide governments and clients on how best to benefit
from China’s ongoing investment and trade”
More than 60 per cent of Standard Chartered’s
global markets across Africa, Asia and the Middle East stand to benefit from
China’s B&R initiative.
Mr Sebastian said the B&R initiative could
facilitate finance for Africa’s key infrastructural development projects, while
encouraging cross-border economic and trade partnerships for the two regions as
a whole, not only with China, but also with those markets positioned along the
“The Bank has more than 150 years of
experience and a well-established network across Asia, Africa and the Middle
East. Standard Chartered has the products and expertise to support the
development opportunities which the ‘Belt and Road’ initiative brings to a
number of economies where we operate.”
Mr Jerry Agyeman-Boateng, Head, Global
Subsidiaries International Corporates, Standard Chartered, said the bank was at
the forefront of facilitating the initiative across the countries in which the
bank operated, to ensure smooth cooperation and execution of the projects.
He said the roadshow emphasises “our promise
to be ‘Here for good’, while demonstrating our capabilities in cementing
existing partnerships and forging new business opportunities across our
footprint, in addition to other B&R countries”
He said the collaboration with the Chinese
government would deepen cooperation in infrastructure construction and industry
and help Ghana achieve self-sustained development.
Dan Soko is a short story author and web content editor. He has work appearing or forthcoming in over a dozen venues, including GhanaScoop, Nigeria Daily News and CapitalBay. When he’s not frightening strangers with his post and writing, he’s most likely frightening his wife Mimi and their two mischievous cats: Buttons and Snaps. You can visit him at www.ghananation.com/author/webby.