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

A logo of Standard Chartered is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip

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

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