CITI has signed memorandum of understandings (MoUs) with Bank of China (BoC) and China Merchants Bank (CMB).

The MoUs aim to strengthen cooperation and partnership between Citi and the two banks in supporting clients’ investments and projects related to the Belt and Road Initiative.

Citi will work with each bank to explore potential avenues of cooperation in various fields, including co-financing, financial products, trade, agency and trust, and capital markets.

This will include projects involving infrastructure, railroads, power and energy ventures, telecom, oil and gas and agriculture as well as sustainable development projects which include education, environment and small-to-medium enterprises.

Gerald Keefe, Citi’s Asia-Pacific head of corporate banking, attended the MoU signing ceremonies in Beijing and Shenzhen, and underlined Citi is willing to assist Chinese partners to cooperate across various fields along the Belt and Road.

Christine Lam, president and chief executive officer of Citi China, says: “We have a long track record of supporting our Chinese banking clients around the world and recently we have achieved several landmark transactions supporting the Belt and Road initiative. We look forward to continuing our century-long tradition of serving our clients by enhancing partnership and helping them realize their global ambitions.”