OREANDA-NEWS. March 28, 2014. Recently, Bank of China has successfully processed the cross-border loan of RMB 50 million for Sino-Singapore Tianjin Eco-city Investment and Development Co., Ltd. and becomes the first bank undertaking the cross-border RMB loans at Sino-Singapore Tianjin Eco-city (SSTEC).

BOC Tianjin Branch took the lead in the loan and BOC Singapore Branch arranged for the overseas funds. The financing is mainly for the project construction and daily working capital of Sino-Singapore Tianjin Eco-city Investment and Development Co., Ltd..

SSTEC is a project of strategic cooperation between the governments of China and Singapore, with the aim to provide active exploration and typical demonstration of building a resource-saving and environment-friendly society. Sino-Singapore Tianjin Eco-city Investment and Development Co., Ltd. is a joint-venture company established according to the agreement between the two contries, fully responsible for infrastructure construction, investment attraction and external promotion of SSTEC.

For the purpose of advancing further the cross-border bank-enterprise cooperation, in May 2013, Sino-Singapore Tianjin Eco-city Investment and Development Co., Ltd. signed the MOU with Bank of China Tianjin Branch and Singapore Branch, respectively. Bank of China will provide the enterprise settled in SSTEC with international and diversified financial services of high quality, by giving play to its advantage in domestic and overseas integration.