Xi Jinping says Beijing will spend less on loans than in previous years while stressing green, low-cost programmes, signalling China is seeking ‘more bang for its buck’ in global infrastructure strategy, observers say.
Ten years after its launch, Xi Jinping’s $1 trillion infrastructure project now boasts about 150 members and has made China the world’s largest creditor.
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This new partnership can match the fresh capital China is injecting into the Belt and Road Initiative with blended financing to identify and develop green projects in developing countries.