HSBC recognised in Asiamoney New Silk Road Finance Award 2020

HSBC’S commitment to the Belt and Road Initiative (BRI) has been recognised by Asiamoney in the publication’s annual New Silk Road Finance Awards 2020in the following categories:

Best Bank for Infrastructure/project Finance i n t he Region (Southeast Asia)

Best Individual BRI Project or Initiative in the Region (South Asia)

Best International Bank in the Region for BRI (Middle East & Africa)

Best Bank for Bri-related financing in the Region (Middle East & Africa)

Mukhtar Hussain, Head of Belt and Road Initiative and Business Corridors, AsiaPacific, HSBC, said, “We are pleased to be recognised by Asiamoney for our work along the Belt and Road. Our vision is aligned with the BRI’S goal of achieving a higher quality, and more open, inclusive, sustainable and market-driven programme. As the world embarks on a journey to recovery from the impact of COVID-19, we are committed to supporting our clients in navigating the impacts in a sustainable way, leveraging the scale and strength of our global network.”

Last year, HSBC supported our clients in a number of major transactions along the Belt and Road. Our work in Southeast Asia is wideranging, including acting as financial adviser to a project that will cut travel times between Thailand’s three airports to just one hour. Asiamoney described us as “a powerhouse in the region” and that our financial expertise matches and overlaps with “exactly what China is trying to do with BRI”.

In Sri Lanka, we were the sole MLA, Lender and

Agent for the US$ 72.25m Sinosure-covered facility for the upgrading of medical equipment at selected hospitals in Sri Lanka – this is recognised by Asiamoney as the Best Individual BRI Project or Initiative in the Region (South Asia) for its “complexity and value”.

On the work in the Middle East, Asiamoney commented, “The connectivity it provides for Chinese corporate and financial institutions investing in the Middle East along the Belt and Road is second to none. Everywhere you look, it is a leader, both in action and in theory.”

Key deals the bank completed included acting as the Sole Financial Adviser to State Grid International Development Limited on its acquisition of 49 percent equity stake in Oman Electricity Transmission Company.