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


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 yo

RWR Advisory: Belt and Road at a Glance

This edition covers developments from March 12 - March 26..  Belt and Road at a Glance   Subscribe to the Belt and Road Monitor Top Developments China National Machinery Industry Corporation, commonly known as Sinomach, has agreed to  build  a $845 million, 255-mile railway across  Iran , building upon a sustained period of growth for Chinese investment in Iran that accelerated after Xi Jinping’s state visit to the country in January 2016. The railway will link the cities of Tehran, Hamedan and Sanandaj. China Civil Engineering Construction, a subsidiary of CRCC, is currently also  building  a 263-km railway line from Kermanshah to Khosravi. According to Chinese entrepreneur Lin Zuoru, who  owns  factories in Iran, “Iran is at the center of everything.”On March 23, China’s Ministry of Commerce announced that foreign direct investment by Chinese companies in 50 Belt and Road countries fell by 30.9% year-on-year. While the Ministry stated that this number covers investment across al

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میں Please 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 daily Heavy Duty Driver: Rs. 1,700 daily Mason: Rs. 1,500 daily Helper: Rs. 850 daily Electrician: Rs. 1,700 daily Surveyor: Rs. 2,500 daily Security Guard: Rs. 1,600 daily Bulldozer operator: Rs. 2,200 daily Concrete mixer machine operator: Rs. 2,000 daily Roller operator: Rs. 2,000 daily Steel fixer: Rs. 2,200 daily Iron Shuttering fixer: Rs. 1,800 daily Account clerk: Rs. 2,200 daily Carpenter: Rs. 1,700 daily Light duty driver: Rs. 1,700 daily Labour: Rs. 900 daily Para Engine mechanic: Rs. 1,700 daily Pipe fitter: Rs. 1,700 daily Storekeeper: Rs. 1,700 daily Office boy: Rs. 1,200 daily Excavator operator: Rs. 2,200 daily Shovel operator: Rs. 2,200 daily Computer operator: Rs. 2,200 daily Security Supervisor: Rs.