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World Bank: China's Belt and Road can speed development, needs transparency
Source: Reuters
BUSINESS NEWS JUNE 18, 2019 / 2:28 PM / UPDATED AN HOUR AGO
World Bank: China's Belt and Road can speed development, needs transparency
David Lawder
3 MIN READ
WASHINGTON (Reuters) - China’s massive Belt and Road infrastructure drive could speed up economic development and reduce poverty for dozens of developing countries, the World Bank said on Tuesday in a new report that called for deep policy reforms and more transparency for the initiative.
The long-delayed report said that the Belt and Road - a string of ports, railways, roads and bridges and other investments connecting China to Europe via central and southern Asia - could lift 32 million people out of moderate poverty conditions if implemented fully.
Still, there are “significant risks,” the World Bank said.
“Achieving the ambitions of the Belt and Road Initiative will require equally ambitious reforms from participating countries,” Ceyla Pazarbasioglu, World Bank vice president for equitable growth, said in a statement.
-snip-
World Bank: China's Belt and Road can speed development, needs transparency
David Lawder
3 MIN READ
WASHINGTON (Reuters) - China’s massive Belt and Road infrastructure drive could speed up economic development and reduce poverty for dozens of developing countries, the World Bank said on Tuesday in a new report that called for deep policy reforms and more transparency for the initiative.
The long-delayed report said that the Belt and Road - a string of ports, railways, roads and bridges and other investments connecting China to Europe via central and southern Asia - could lift 32 million people out of moderate poverty conditions if implemented fully.
Still, there are “significant risks,” the World Bank said.
“Achieving the ambitions of the Belt and Road Initiative will require equally ambitious reforms from participating countries,” Ceyla Pazarbasioglu, World Bank vice president for equitable growth, said in a statement.
-snip-
Read more: https://www.reuters.com/article/us-worldbank-china-belt/world-bank-chinas-belt-and-road-can-speed-development-needs-transparency-idUSKCN1TJ2IX
