HKAB and IFFO's Seminar on Risk Mitigation Techniques in Infrastructure Financing for the Belt and Road Initiative concludes successfully (with photo)
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The Hong Kong Association of Banks (HKAB) and the Hong Kong Monetary Authority (HKMA) Infrastructure Financing Facilitation Office (IFFO) jointly organised the Seminar on Risk Mitigation Techniques in Infrastructure Financing for the Belt and Road Initiative today (February 28). The seminar was productive and successful, with nearly 200 bankers, project finance experts, risk officers and professionals attended and exchanged ideas on the topics.
Financial capacity is one of the most important aspects to the success of the Belt and Road Initiative. The seminar provided an interactive forum to share insights on how market participants can build more capacity through the inclusion of sophisticated risk mitigation techniques available for infrastructure financing for the Belt and Road Initiative.
The Executive Director (External) of the HKMA and Deputy Director of the IFFO, Mr Vincent Lee, said, "IFFO is delighted to work with the HKAB in co-hosting this important seminar to discuss risk mitigation techniques in infrastructure investment and financing. Since established in July 2016, IFFO has hosted 10 seminars, panels and workshops to promote capacity building, experience sharing as well as networking. IFFO will continue to organise more events to promote market and product development to facilitate infrastructure investment and financing activities."
The Acting Chairperson of the HKAB and Chief Risk Officer of the Bank of China (Hong Kong), Mr Li Jiuzhong, said, "As Asia's international financial hub with a unique relationship to the Mainland of China, Hong Kong is well positioned to support Belt and Road investments and provide risk mitigation techniques in infrastructure financing. In this new environment of opportunity and challenge, commercial banks, policy banks, insurance companies and other non-bank financial institutions can work closely together with investors to support Belt and Road projects of various scope, scale and diversity."
The seminar featured panel discussions on Legal and Regulatory View of Credit Insurance, the Role of Private Sector Credit Insurance, Partnership between Commercial Banks and Development/Policy Banks, as well as Asian Development Bank's experience sharing on risk mitigation of financing infrastructure projects. The high level of participation in this seminar shows that the Hong Kong banking community is working proactively to grasp this opportunity in co-operation with policy banks, insurance companies and other stakeholders.
About IFFO
As part of the HKMA, IFFO's mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:
• providing a platform for information exchange and experience sharing;
• building capacity and knowledge on infrastructure investments and financing;
• promoting market and product development; and
• facilitating infrastructure investment and financing flows.
By establishing IFFO, the HKMA can play a valuable role as a catalyst in the facilitation of infrastructure investments and their financings with its mandate to promote Hong Kong as an international financial centre.
For more information about IFFO, please visit www.iffo.org.hk.
About HKAB
The Hong Kong Association of Banks (HKAB) was created by the Hong Kong Association of Banks Ordinance (Cap.364) (Ordinance) in 1981 to replace the Exchange Banks' Association. The Ordinance provides a framework for the Government to exchange views with the banking sector for the further development of the industry.
Roles of HKAB include:
- to promote the interests of fully licensed banks in Hong Kong and after consultation with the Financial Secretary to make rules for the conduct of banking business;
- to be a focal point for consultation on law reform, new legislation and regulatory matters;
- to form a sounding-board for the Government and other relevant bodies on general business and banking issues;
- to offer a channel of communication among its members and with third parties; and
- to promote best practice to members and provide information service.
For more information about HKAB, please visit www.hkab.org.hk.
Ends/Tuesday, February 28, 2017
Issued at HKT 19:40
Issued at HKT 19:40
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