December 18, 2017 / 11:01 AM / a month ago

StanChart and China's Ant Financial sign 'Belt & Road' partnership

LONDON (Reuters) - London-based bank Standard Chartered and Ant Financial, the payment affiliate of Alibaba Group Holding Ltd have agreed to collaborate in countries along China’s ‘Belt & Road’ strategic initative.

FILE PHOTO: People pass by the logo of Standard Chartered plc at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo

StanChart said on Monday the two companies will work to increase access to financial services in countries along the route, without giving details on how the partnership will work.

China’s Belt and Road initiative aims to recreate the old Silk Road with massive infrastructure projects to connect China to Europe and beyond.

Reporting by Lawrence White, editing by Louise Heavens

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