Now the program, called the Belt and Road Initiative, has come roaring back. Under Belt and Road, state-owned Chinese banks typically lend practically all of the money for a construction project to be carried out by Chinese companies. In 2018, Sri Lanka gave its major port to China after it could not repay loans, while Malaysia halted its own costly Belt and Road projects. That has produced a revival of lending for domestic infrastructure projects and for Belt and Road projects alike. Alongside telecommunications, the biggest security concern in the West about the Belt and Road Initiative has involved China’s construction or expansion of extensive ports.

Source: bd News24 January 16, 2020 18:22 UTC