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DBS partners China's Sinosure for Belt and Road project push
DBS Group Holdings is partnering China Export & Credit Insurance Corporation (Sinosure) on projects under the Belt and Road Initiative (BRI), especially those from Asean.
Sinosure is the only state-funded export credit agency conducting export credit insurance business in China. Through the partnership, both parties will leverage each other’s strengths in trade and investments, and in-market experience.
Sinosure will provide credit insurance for DBS’s mid and long-term financing activities. This will be for projects in fields such as marine engineering, infrastructure and construction, energy, chemicals and textiles, aerospace, as well as services and technology.
DBS Singapore country head Shee Tse Koon said that through the partnership, the bank will facilitate project finance, as well as investment and trade opportunities with Asean partners. This is with the aim of strengthening its partnership and increasing the depth of its business with mainland China.
"We look forward to helping companies capitalise on the numerous business opportunities offered under BRI," he added.
Sinosure vice-president Huang Zhiqiang said: "Sinosure is excited that this cooperation will increase support for Chinese companies’ projects in the Belt and Road countries and promote the vast investment opportunities in China.”