Belt and Road Initiative brings real opportunities for ICBC in Europe: ICBC Europe chairman

BRUSSELS, March 25 (Xinhua) -- The "Belt and Road Initiative" is bringing real opportunities to ICBC in Europe, indicating vast potential for commercial activities in subsequent years, said Chairman of ICBC Europe Chen Fei.

"As one of the first Chinese state-owned financial institutions to go abroad and enter Europe, ICBC Europe has expanded domestic and overseas financing channels and improved cross-border financial services in recent years, he told Xinhua on Wednesday.

Many attempts have been made by enterprises to participate in the "Belt and Road" initiative, such as providing diversified financial support and services, and some achievements have been made. As a result, its own strength has also been strengthened", Chen said.

Chen said that in recent years, he has followed the "Belt and Road Initiative" from up close and is firmly committed to the idea of further foreign investments and acquisitions (M&A) being pooled into European projects.

Amongst all these developments, he pointed out in particular ICBC's earlier release of the "Belt and Road" green climate bond in Luxembourg in October 2017 as one of the greatest achievements to date.

Indeed, on Oct. 30 last year, ICBC held a "ring the bell" ceremony in Luxembourg Stock Exchange to celebrate the official listing of its inaugural "Belt and Road" climate bonds successfully issued earlier with a total equivalent of 2.15 billion U.S. dollars.

The use of proceeds will be dedicated to financing and refinancing the four eligible categories initiated by ICBC globally in renewable energy, low carbon and low emission transportation, energy efficiency, and sustainable water and wastewater management.

While helping Chinese enterprises to go globally, ICBC Europe also takes advantage of "ONE ICBC" to achieve in-depth cooperation in various fields with many large, well-known local enterprises. Enditem