Citibank NA, Bangladesh recently hosted the ‘Belt and Road Forum Bangladesh 2018’ underlining Citi’s commitment to support Bangladesh, global clients and investors with the opportunities offered by the belt and road initiative, said a press release.
M Abul Kalam Azad, principal coordinator of SDGs affairs at the Prime Minister’s Office, China ambassador to Bangladesh Zhang Zuo and key stakeholders from the government and private enterprises were present in the programme.
Azad in his keynote presentation provided a detailed overview of the economy and the investment opportunities in Bangladesh.
Bangladesh and Sri Lanka Citi sub-cluster head James Morrow outlined why Citi was focusing on ‘One Belt One Road’ initiative. The BRI is an attempt to foster trade and investment with an inter-continental scope, said the release.
At the forum, Zhang said, ‘The business and industrial communities are the major players for BRI. Their contributions and wisdom are vital to the win-win cooperation between China and Bangladesh. Working together, we shall usher in a more prosperous era for China-Bangladesh cooperation.’
Citi country officer and managing director N Rajashekaran said, ‘We are banking with clients in 58 BRI markets, more than any other bank globally and we have over 100 years of history of operating across the countries along the Belt and Road. We look forward to continuing our tradition of serving our clients by enhancing connectivity and facilitating the entry and operations of foreign investors in Bangladesh.’
According to the release, Citi Bangladesh corporate and investment banking head Shams Zaman talked about the need for creating access to long-term financing to support BRI projects in the most competitive and structurally efficient fashion keeping in view their long-term viability.
Developing capital market solutions in each country in addition to overseas financing should create more sources of liquidity, he said.
Citi China corporate and investment banking head Johnson Yuan said, ‘With our local expertise and long-standing relationships with clients and regulators along the Belt and Road, it places Citi in an excellent position to be the partner of choice for clients as they move forward on the BRI. Citi commenced operations in China in 1902 and is best placed to support the investors from Bangladesh and other BRI countries.’