Minister From Bangladesh Has Urged Caution On BRI By China

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back

Related stories

Deutsche Bank and Mastercard Join for Open Banking Payments

Deutsche Bank and Mastercard has announce a joint strategic...

Smart Ways to Grow and Protect Wealth Near Retirement

As retirement approaches, many people shift their focus from...

Smart Ways to Grow and Protect Wealth Near Retirement

As retirement approaches, many people shift their focus from...

Payment Transformation of CIMB Gets a Push by ACI Worldwide

ACI Worldwide, which happens to be an original innovator...

Bangladesh’s finance minister has stated that given the difficulty of repaying loans due to global inflation, poor nations should think twice before implementing China’s Belt and Road Initiative (BRI) development programme.

AHM Mustafa Kama made his remarks in response to the news that Sri Lanka, whose economy had been highly dependent on Chinese aid, had formally declared bankruptcy.

According to reports, the finance minister stated regarding BRI that no matter the global crisis that is going on, everyone is going to think twice about committing to this project. China is being blamed by everyone. China simply cannot agree. They are accountable for it, he opined.

Following Russia’s invasion of Ukraine, rising commodity prices forced Bangladesh to turn to the IMF for assistance as its foreign reserves were depleted. According to estimates, Bangladesh owes Beijing $4 billion, or 6% of its overall foreign debt.

More than 140 nations, including Italy, a member of the G7, have joined China’s BRI, which has been enormously successful despite previous criticism regarding the gap it leaves certain developing nations with.

Notably, the Partnership for Global Infrastructure (PGII), which is considered as a challenger to China’s BRI, was introduced at the most recent G7 Summit with the goal of mobilising US$600 billion in global infrastructure investments by 2027.

Latest stories

Related stories

Deutsche Bank and Mastercard Join for Open Banking Payments

Deutsche Bank and Mastercard has announce a joint strategic...

Smart Ways to Grow and Protect Wealth Near Retirement

As retirement approaches, many people shift their focus from...

Smart Ways to Grow and Protect Wealth Near Retirement

As retirement approaches, many people shift their focus from...

Payment Transformation of CIMB Gets a Push by ACI Worldwide

ACI Worldwide, which happens to be an original innovator...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back