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At least sh. 2 trillion will facilitate additional financing by 2020 for Belt and Road initiative

The  Standard Chartered Bank  will facilitate the Belt and Road initiative relay with additional financing of at least Sh2 trillion by 2020.

Speaking at the Belt and Road initiative relay in Nairobi, Standard Chartered Chief Executive Officer (CEO), Kariuki Ngari said that given the scale and complexity of the Belt and Road Initiatives, collaboration and partnerships with regulators, financial institutions and development banks are critical in ensuring that everyone can benefit.

“The Bank will continue to leverage its strong and strategic partnerships with the Silk Road Fund, Asian Infrastructure Investment Bank, New Development Bank, Chinese policy banks, and Chinese commercial banks to ensure clients have full institutional support as they go global,” Ngari said.

Commenting on the relay, Ngari further added that, the Belt & Road Initiative is the most ambitious and far-reaching project of its kind in the world today.

He said the bank was present in two-thirds of Belt & Road markets, and Kenya’s rich heritage, deep local knowledge and unparalleled connectivity means that we are ideally placed to help our partners, clients and communities to make the most out of the initiative.

“By traversing these markets on foot and engaging clients, governments, media and communities, our Standard Chartered Belt & Road Relay athletes will showcase our commitment to be the One Bank for the Belt & Road,” reiterated Ngari.

The  Economic and Commercial Chancellor of Chinese Embassy, Guo Ce, said that Kenya and China have signed a Memorandum of Understanding on Belt and Road initiative that has paved way for agricultural products export to China adding that the Standard Gauge Railway is an important factor that has boosted job opportunities and economic growth.

The  relay is led by eight staff athletes from Standard Chartered, selected from the Bank’s diverse footprint in Asia, Africa, the Middle East, and Europe and the Americas.

The  Standard Chartered Belt & Road relay kicked off in Hong Kong on 17th February and will end in China on May11, whereby the athletes will run across 44 Belt and Road markets within a 90-day period.

By  Valencia Nasimiyu/Joseph Ng’ang’a

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