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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 2019 A 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 Lee WASHINGTON — In its first five years, loan commitments by China’s Belt and Road Initiative surpassed combined lending by the  World Bank Group ,  Asian Development Bank ,  African 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