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Showing posts from October 27, 2019

China's Belt & Road Initiative out-lends MDBs, sees itself as 'global public good'

By Adva Saldinger@AdvaSal// 23 October 2019A woman checks her mobile phone next to a poster promoting a project of the Belt and Road Initiative in Colombo, Sri Lanka at the China International Fair for Trade in Services in Beijing, China. Photo by: REUTERS / Jason LeeWASHINGTON — In its first five years, loan commitments by China’s Belt and Road Initiative surpassed combined lending by the World Bank GroupAsian Development BankAfrican Development Bank, and the Inter-American Development Bank in a similar period, according to a new report.BRI, which now includes some 132 countries, up from 65 at its start, committed or dispersed between $580 billion and $600 billion in loans between 2013 and 2018, outstripping the $490 billion lent by the group of multilateral development banks between 2013 and 2017, said the report from the Emerging Markets Forum.“President Xi made very clear we want to really support a high-quality BRI … more will be done to ensure quality infrastructure and enco…