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Chinese President Xi Jinping said on Saturday that $ 64 billion had been signed at a summit on his "Belt and Road" initiative and that more countries would join the global infrastructure program as well. he sought to appease the anxieties aroused by this colossal project.
Xi and 37 world leaders closed a three-day forum in Beijing with promises to ensure that the projects of its new Silk Road are financially sustainable and environmentally friendly as a result of debt and human rights concerns. environmental damage.
"We are determined to support open, clean and green development and reject protectionism," Xi told reporters at the end of the forum, without answering any questions.
His foreign policy signature is aimed at reinventing the ancient Silk Road to connect Asia to Europe and Africa through mbadive investments in cultural and economic ventures. maritime, road and rail projects, with hundreds of billions of dollars in funding from Chinese banks.
Critics say that BRI is a plan to strengthen Beijing's global influence, tainted by opaque agreements favoring Chinese companies and countries grappling with debt problems and protecting the country's finances. 39; environment.
The United States, India and some European countries have looked at the project with suspicion. Washington did not send any representatives to the meeting.
"This year's forum sends a clear message: more and more friends and partners will join the cooperation between Belt and Road," Xi said.
Xi said companies would be the main driver of all Belt and Road projects and that market principles would be applied, with governments playing a supporting role.
"This will make projects more sustainable and create a fair and non-discriminatory environment for foreign investors," Xi said.
Xi said that business leaders meeting at a side event had signed for $ 64 billion worth of transactions during the forum, without providing details.
Leaders from Europe, Africa, Asia and Latin America gathered at the scenic Yanqi Lake, near Beijing, agreed in a joint statement that companies would play the lead role in the Belt and Road projects.
Russian President Vladimir Putin, Italian Prime Minister Giuseppe Conte, whose country became the first G7 member to join Belt and Road, and Pakistani Imran Khan.
The sustainability of the project
Large-scale projects, mainly financed by loans and investments with Chinese banks, have raised fears that the poorest countries will be in debt – Sri Lanka has ceded an ocean-going port to China for 99 years after being unable to to repay its loans.
Chart on the mbadive investment project in China's infrastructure, including road, rail and sea routes around the world. By Laurence CHU (AFP)
Until now, Chinese companies and workers have become the main beneficiaries because they are used to build the infrastructure financed by China in other developing countries.
A statement issued at the end of the meeting said leaders urged multilateral development banks and other international financial institutions to support projects "in a financially sustainable manner" and to mobilize private capital in accordance with local needs. .
"We emphasize the importance of economic, social, fiscal, financial and environmental sustainability of projects," he said.
The draft communiqué states that BRI will welcome developed countries and international investors to participate in projects.
& # 39; Civilized and sweet & # 39;
The Chinese Ministry of Finance on Thursday issued guidelines to badess the financial risk and debt sustainability of projects in BRI countries.
But the paper notes that countries already facing payment problems or restructuring their payments "does not automatically mean that the debt is unsustainable in the future sense of the term".
"Faced with this growing resistance for a year and a half and this image of debt, China is trying to reposition itself (BRI) and send a rebaduring message," said Nadege Rolland, researcher at the National Office of Asian research, a think-tank based in the United States.
But "let's see how this is put into practice," she said.
Russian President Vladimir Putin congratulated China for acting "civilized and soft" and made a veiled gesture against the United States.
"No one wants sanctions, no one wants trade wars, with the exception of those who triggered them.These sanctions are harming the global economy," said Putin, adding that China " currently defends liberal values ".
BIS projects have experienced difficulties in some countries. In Malaysia, Prime Minister Mahathir Mohamad canceled some planned works and renegotiated a railway project reducing the price by 30%.
But Mahathir and other leaders attending the summit praised BRI.
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