BEIJING: Beijing will inject over US$100 billion of new funding into its Belt and Road initiative, President Xi Jinping said on Wednesday (Oct 18) at a summit marking the vast infrastructure project'
FILE PHOTO: Chinese President Xi Jinping attends a ceremony to welcome participants of the Belt and Road Forum in Beijing, China, October 17, 2023. Sputnik/Sergei Savostyanov/Pool via REUTERS/File PhotoBEIJING: Beijing will inject over US$100 billion of new funding into its Belt and Road initiative, President Xi Jinping said on Wednesday at a summit marking the vast
An additional 80 billion yuan will be injected into the project's official lending institution, the Silk Road fund, Xi said. Beijing has been forced to hand out billions of dollars in bailout loans to BRI countries in recent years to allow the countries to extend their loans and remain solvent, according to a joint report this year by the World Bank and other institutions.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indonesia to seek China's help to develop renewables at Belt and Road ForumJAKARTA - Indonesia will seek China's help for renewable energy and infrastructure projects when President Joko Widodo attends the upcoming Belt and Road Forum in Beijing, a cabinet minister said. Any partnership with China would be parallel with the Just Energy Transition Partnership (JETP) - a US$20 billion (S$ 27.
Read more »
Ports, railways, a naval base: China's Belt and Road in five projectsBEIJING: China's landmark Belt and Road Initiative (BRI) has thousands of infrastructure projects in every corner of the globe, generating a staggering US$2 trillion in contracts while courting inter
Read more »
A decade on, has China’s ambitious Belt and Road Initiative benefitted Central Asia?As China marks the 10th anniversary of its global infrastructure project this year, CNA visits Central Asia, where the BRI was first set in motion, to take stock of the changes that have occurred.
Read more »
- Has China’s Belt and Road Initiative lived up to its promise in Mongolia?In the deepest parts of Mongolia, Google Maps doesn’t work. The vast country is also the most sparsely populated in the world. But China’s Belt and Road Initiative is set to change that, with massive transport projects in full swing. Olivia Siong takes us there in this episode of CNA Correspondent.
Read more »
China’s Xi warns against decoupling, lauds Belt and Road at forumMr Xi criticised Western efforts to reduce dependence on the Chinese economy. Read more at straitstimes.com.
Read more »