{"id":443952,"date":"2017-12-05T16:33:55","date_gmt":"2017-12-05T16:33:55","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/12\/05\/barclays-china-devt-bank-cooperate-on-devt-projects-in-africa\/"},"modified":"2017-12-05T16:33:55","modified_gmt":"2017-12-05T16:33:55","slug":"barclays-china-devt-bank-cooperate-on-devt-projects-in-africa","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/12\/05\/barclays-china-devt-bank-cooperate-on-devt-projects-in-africa\/","title":{"rendered":"Barclays, China Dev’t Bank cooperate on dev’t projects in Africa"},"content":{"rendered":"

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Barclays Africa will leverage the MoU to unlock opportunities in order to strengthen its contribution towards Africa\u2019s economic growth and development<\/p>\n

Barclays Africa Group Limited and China Development Bank (CDB) have signed a memorandum of understanding (MoU) aimed at strengthening cooperation and exploring opportunities to fund development projects in Africa.<\/p>\n

Given CDB\u2019s focus on infrastructure finance for roads, railways and dams, Barclays Africa will leverage the MoU to unlock opportunities in order to strengthen its contribution towards Africa\u2019s economic growth and development. Barclays Africa will also extract synergies from the CDB\u2019s focus on inclusive finance to provide capital to SME\u2019s and low income communities.<\/p>\n

In addition, Barclays Africa and CDB will explore reciprocal training and development opportunities for their respective investment teams. In this regard, Barclays Africa has already hosted more than 30 employees from the CDB.<\/p>\n

\u201cThis MoU represents a long-term commitment by senior leadership at Barclays Africa to strengthen our relationship with the world\u2019s largest development finance institution, which has assets of over US$2-trillion. This partnership will unlock opportunities that are aligned to our Shared Growth approach and could facilitate positive socio-economic impact,\u201d says Barclays Africa\u2019s Corporate and Investment Banking (CIB) Co-Chief Executive, Temi Ofong.<\/p>\n

Barclays Africa has a history of more than 100 years in Africa, with deep local and regional expertise. As one of the leading Pan-African banks on the continent, Barclays Africa\u2019s in-depth understanding of local markets and sectors, coupled with a strong branch, ATM and customer networks, is well positioned to provide a unique value proposition to local, regional and global clients.<\/p>\n

\u201cStrengthening these kinds of relationships will help our Group identify opportunities aligned to our Shared Growth commitment to leave our communities better than we found them. As a Pan-African bank, Shared Growth gives our business an exciting opportunity to make a difference in our communities and to be part of shaping the collective futures of this great continent,\u201d says Ofong.<\/p>\n

The CDB was established in 1994 as a policy bank but now operates as a Development Finance Institution (DFI) for the Chinese Government. By 2017, CDB supported more than 500 projects in 43 African countries valued at USD 50-billion.<\/p>\n

In 2016, China-Africa trade flow reached US$150-billion, making China, Africa\u2019s largest trade partner for seven consecutive years.<\/p>\n

Source: Ghana\/Starrfmonline.com\/103.5FM<\/strong><\/p>\n

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