ESR’s ARA Announces Milestone Partnership with the Export-Import Bank of China for $1 Billion Infrastructure Fund
Posted on 11/21/2022
Founded in 1994, the Export-Import Bank of China is a state-funded and state-owned policy bank with the legal status of an independent entity.
ESR Group Limited (ESR; SEHK Stock Code: 1821) announced its wholly-owned subsidiary, ARA, has entered into a milestone partnership with the Export–Import Bank of China for the closing of a US$ 1 billion infrastructure fund – China-ASEAN Investment Cooperation Fund II (CAF II). ARA Private Funds infrastructure arm, ARA Infrastructure, has also been appointed as an investment adviser by the Export–Import Bank of China, the main anchor sponsor of this fund. This follows Chinese Premier Li Keqiang’s speech at the 25th China-ASEAN Summit, highlighting the support of major infrastructure and energy projects in ASEAN.
The Export-Import Bank of China, Gezhouba Group Overseas Investment Corporation, China Road & Bridge Corporation, and ARA together have committed US$1 billion towards CAF II. This fund will invest in ASEAN countries across various infrastructure energy resources, including: renewables and ICT sub-sectors, with a focus on sustainability and ESG standards.
Mainly sponsored by the Export-Import Bank of China, CAF I invested in sectors such as: infrastructure, energy resources “ICT”, providing capital support for outstanding enterprises in China and ASEAN countries.