Greece and China boost shipping finance cooperation

Greece and China boost shipping finance cooperation

Cooperation between Greece and China on shipping finance is set to receive a boost after a conference held at the major Greek port of Piraeus on Wednesday.

The Export-Import Bank of China (Exim Bank) and Greek shipowners discussed the issue within the framework of China’s Belt and Road Initiative (BRI) for global infrastructure development at the conference co-organized by the Association of Banking and Financial Executives of Hellenic Shipping (ABFEHS) and the Chinese Embassy in Greece.

“Greece is a platform of safe investments for the seagoing trade” and “it is open for both financial institutions and private investors,” ABFEHS President George Xiradakis said in his welcome address.

Greek shipping offers attractive opportunities for ship financiers, as the Greek-owned fleet is continuously growing, he said.

Chinese leasing finance in shipping has grown from $47 billion in 2017 to $77 billion in 2021, and Chinese banks, including Exim Bank, have established strong ties with Greek shipping, he underlined. [Xinhua]

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