DBS underlines support to finance Asia’s infrastructural development by signing cooperation agreement with China Export & Credit Insurance Corporation
SINGAPORE,15 April 2019 -
DBS Group Holdings has announced its commitment to further support the development of Asia’s infrastructural needs by signing a cooperation agreement with China Export & Credit Insurance Corporation (Sinosure).
Under the cooperation agreement, DBS and Sinosure will collaborate on projects under the Belt and Road Initiative, especially those from ASEAN, by leveraging each other’s strengths in trade and investments and in-market experience. Sinosure will provide credit insurance for DBS’ mid and long-term financing activities for projects in the fields of marine engineering, infrastructure and construction, energy, chemicals and textiles, aerospace, as well as services and technology.
DBS has a long history of connecting global businesses that are looking for strategic growth in the region. Harnessing its extensive network in Asia, it has played a prominent role as financial advisor and lender for many projects.
DBS Singapore Country Head Shee Tse Koon said, “Through signing the cooperation agreement with Sinosure, we will strengthen our partnership and increase the depth of our business with mainland China by facilitating project finance, and investment and trade opportunities especially with partners in ASEAN. We look forward to helping companies capitalise on the numerous business opportunities offered under BRI.”
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.”
Sinosure is the only state-funded Export Credit Agency conducting export credit insurance business in the People’s Republic of China.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “Global Bank of the Year
” by The Banker and “Best Bank in the World
” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank
” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia
” award by Global Finance for ten consecutive years from 2009 to 2018.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 26,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com
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