ESR's ARA and Export-Import Bank of China partner in a deal worth US$1B

By Akshay Kedari  | Date: 2022-11-22

ESR's ARA and Export-Import Bank of China partner in a deal worth US$1B

Leading real estate services and investment company, ESR Group Limited, has recently announced that its exclusively-owned subsidiary, ARA and the Export-Import Bank of China have inked a breakthrough collaboration in a deal worth USD 1 billion infrastructure fund, namely the China-ASEAN Investment Cooperation Fund.

For the uninitiated, the Export-Import Bank of China, the major anchor sponsor of the fund, has appointed ARA Infrastructure, which is the infrastructure arm of ARA Private Fund, as an investment adviser.

Apparently, the move has been undertaken following the speech made by Chinese Premier Li Keqiang during the 25th China-ASEAN (Association of Southeast Asian Nations) Summit, underscoring the support of major infrastructure and energy projects in ASEAN.

Speaking on the latest development, Chen Bin, Vice President of the Export-Import Bank of China, stated that it feels great to be supported by government departments and the joint efforts of respective LPs, which has helped CAF II to set up.

Chen mentioned that being committed to supporting the foreign trade sector, the Export-Import Bank of China considers ASEAN countries a crucial area for business expansion.

The VP also cited that the firm has held strong ties with ASEAN countries for over 20 years and has financed nearly 200 projects in sectors like transportation, power, water conservancy, and industrial production.

Chen also expressed his hope that CAF II could help enhance trade, connectivity, and investment cooperation between China and ASEAN countries, which could help contribute to economic cooperation and trade in the region.

According to sources, Gezhouba Group Overseas Investment Corporation, the Export-Import Bank of China, ARA, and China Road & Bridge Corporation have pledged USD 1 billion to CAF II.

Notably, the fund will be investing in ASEAN countries across several infrastructure, energy resources, ICT sub-sectors, and renewables, emphasizing ESG and sustainability standards.

Source credit - https://finance.yahoo.com/news/esrs-ara-announces-milestone-partnership-072200230.html

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More >>

More News By Akshay Kedari

Federal Reserve increases interest rates amidst US banks’ failure

Federal Reserve increases interest rates amidst US banks’ failure

By Akshay Kedari

Despite the instability in the global financial market, the U.S. central bank has hiked its interest rates once again. The Federal Reserve has reportedly increased its rate by 0.25 percentage points. While the institution has warned other banks that ...

Apple delays employee bonuses, stops hiring amid cost-cutting efforts

Apple delays employee bonuses, stops hiring amid cost-cutting efforts

By Akshay Kedari

Apple has reportedly decided to delay the bonuses of certain divisions, alongside a halt on new hiring as part of its efforts to cut back costs. With this move, the firm joins its peers in Silicon Valley in trying to optimize workload during tough ti...

China focuses on growth of renewable energy usage amid coal boom

China focuses on growth of renewable energy usage amid coal boom

By Akshay Kedari

China is making rapid progress in limiting the emission of carbon by focusing on the expansion of renewable energy. According to the Global Energy Monitor, in 2022, China has approved its highest number of new coal-fired plants since 2015. This ha...

China factories expand production, record fastest pace in the decade

China factories expand production, record fastest pace in the decade

By Akshay Kedari

China’s manufacturing activity has reportedly shown rapid growth at the fastest pace of the decade, following the lifting of the COVID-19 restrictions in late 2022. The country’s official purchasing managers’ index (PMI) rose to 52....

Amazon employees sound off on recent work from office policy

Amazon employees sound off on recent work from office policy

By Akshay Kedari

Amazon employees have reportedly expressed disagreement about the company recent mandates asking employees to return to office for work. This included the spamming of an internal website with messages of opposition against the new policy. An inter...