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:
- to provide a platform for information exchange and experience sharing;
- to build capacity and knowledge on infrastructure investments and financing;
- to promote market and product development; and
- to facilitate infrastructure investment and financing flows.
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.
Hong Kong Monetary Authority
20 December 2017