Financing Arrangements for Hong Kong-Zhuhai-Macao Bridge

For more information, please contact:
Melissa Ng /David Hsieh at 212-752-3320
Daniel McAtee at 202-238-6360
Wing Yan Tong at 415-835-9315

April 14, 2009 - The selection of the lead bank to provide the funding arrangement for the main body of the Hong Kong-Zhuhai-Macao Bridge (HZMB) was made through an open tender exercise conducted jointly by the governments of Hong Kong, Guangdong and Macao on the Mainland in January 2009. With professional assistance rendered by an independent financial consultant, the three governments in March selected the Bank of China as the lead bank to form a consortium to provide loans for the main body of the HZMB.

The Bank of China undertakes to provide RMB22 billion for the main body of the HZMB and will start work in accordance with the requirements of the three governments, including working out the details of the loan terms and arrangements. The Bank of China will ensure that in forming the financial consortium, banks of Hong Kong and Macao will have the same opportunities as those of the Mainland in joining the consortium.

The funding issue for the main body of the HZMB has been fully resolved. The three governments will continue to work earnestly with a view to starting the construction of the HZMB project this year.