The Moody’s report said some BRI participating countries have sought financing support from the International Monetary Fund or debt relief from G-20 lenders, including China. Moody’s named China Development Bank and Export-Import Bank of China as having “significant exposure” to projects under the initiative. The pandemic’s impact on the Belt and Road Initiative is likely to persist for years. Moody’s estimated that fresh Chinese-led investment flows into participating countries may not return to levels seen in 2014-2019 in the next two years. “This trend will likely continue as BRI countries start to place a greater emphasis on low-carbon and climate-resilient infrastructure,” read the report.-Photos: Xinhua

Source: The Standard November 24, 2020 06:00 UTC