Skip to main content

20% Belt and Road Initiative 'seriously affected' due to coronavirus: China


20% Belt and Road Initiative `seriously affected` due to coronavirus: China
Belt and Road Initiative Photograph:( Others )
Jun 19, 2020, 02.47 PM (IST)

China's foreign ministry said that around 20 per cent of Belt and Road Initiative (BRI) has been "seriously affected" due to the coronavirus pandemic.

Also Read; How coronavirus impacts China's Belt and Road initiative

"As the situation improves we have confidence that the projects will come back and the execution of them will speed up," Wang Xiaolong, director-general of the ministry's International Economic Affairs Department, said.


China's controversial BRI project has been in the eye of the storm with the country having given large sums of money as loans. As the coronavirus pandemic spread, several countries have been looking for a loan waiver.

The Chinese official asserted that there were no reports of any projects being cancelled due to the virus even as several countries including Sri Lanka, Indonesia and Malaysia had earlier complained about the huge costs involved in the project.

The Chinese ministry said about "40 per cent of projects have seen little adverse impact, and another 30-40 per cent have been somewhat affected". 

The ambitious project is President's Xi's pet project which intends to extend road and railway network through Asia, Europe and Africa including linking seaports in a bid to boost trade.

China has given loans worth $460 billion to several countries so far with over 140 countries having signed up the BRI project so far including Iran and Pakistan.

In April as the coronavirus pandemic began to take hold in Pakistan, authorities ordered the resumption of the project called the phase-II of Sino-Pakistani Industrial Cooperation.

Last month, Hungary's Parliament had voted to ratify a bill to keep details of China-financed Budapest-Belgrade railway track a secret as it could "threaten Hungary's ability to pursue its foreign policy and trade interests without undue external influence".

Under the agreement, Hungary will be financing 85 percent of the investment costs -- estimated to be at least $2.2 billion from credit and the remaining 15 per cent from its funds

https://www.wionews.com/world/20-belt-and-road-initiative-seriously-affected-due-to-coronavirus-china-307058


Comments

Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed.
Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area”
For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number”
Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell you …

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

A ‘European Silk Road’

publication_iconPhilipp HeimbergerMario Holznerand Artem Kochnevwiiw Research Report No. 430, August 2018 
43 pages including 10 Tables and 17 FiguresFREE DOWNLOAD
The German version can be found here.In this study we argue for a ‘Big Push’ in infrastructure investments in greater Europe. We propose the building of a European Silk Road, which connects the industrial centres in the west with the populous, but less developed regions in the east of the continent and thereby is meant to generate more growth and employment in the short term as well as in the medium and long term.After its completion, the European Silk Road would extend overland around 11,000 kilometres on a northern route from Lisbon to Uralsk on the Russian-Kazakh border and on a southern route from Milan to Volgograd and Baku. Central parts are the route from Lyon to Moscow in the north and from Milan to Constanţa in the south. The southern route would link Central Europe with the Black Sea area and the Caspian Sea litto…