China calls on Beijing Development Bank to focus more on the belt and road initiative

Beijing – Chinese Prime Minister Lee Ten on Thursday called on the Asian Infrastructure Investment Bank to increase its support in the Beijing Belt and Road initiative.

“I hope the AIIB remains committed to open regionalism and insist in promoting communication and communication between Asian countries and countries around the world,” Lee said in a mandarin through an official translation into English.

“It is important to strengthen the synergies between the bank and the belt and the road initiative and the global development initiative,” Lee said, citing two programs led by Beijing.

His performance at the opening ceremony of the 10th annual Bank’s meeting is against the background Retreat to US support For Western institutions, such as the World Bank and the International Monetary Fund, which US President Donald Trump claims to be unjust to other countries.

The Prime Minister’s “Comments” signal China’s current attempts to take advantage of Trump’s chaos caused by Trump’s trade and economic policies, “said Stephen Olson, Senior Staff of the Southeast Asia Research Institute and a former US trade negotiator.

“China is also very aware that the United States is trying to put pressure on the countries to abandon China (as we saw in the UK’s trade transactions), and this is part of its strategy to counteract this effort,” Olson said in an e -mail.

Under China’s President Xi Jinping, who is already in the third term, China launched a regional development program called “Belt and Road” in 2013.

The program is widely regarded as the Beijing’s efforts to enhance its global influence through Rail development, Marine and other transport routes connecting Asia with Europe and Africa. Critics claim that a mass project in China is infrastructure forced to develop a country to take over the great debt It benefits Chinese companies, often state organizations.

Subsequently, the XI announced a broader “global development initiative” in 2021 to promote efforts under the guidance of Beijing over the fight against poverty, health and food security, coordinated for the UN Sustainable Development Goals.

AIIB this week announced that Zou Jiayi, former Minister of Chinese Vice -Finance, will become his Next president Starting in January. Zou also previously represented China as Alternative governor in the World Bank. The former anti -corruption official is also member The Central Committee of the Chinese Communist Party of China, the third largest circle of power in the country.

The current President of AIIB Gin Newen has served two five-year terms since the founding of the bank, as well as the former Minister of Chinese Vice-Finance.

Indonesia, the founder of AIIB, collaborated with the bank over 14 projects totaling more than $ 5.1 billion, Finance Minister Sri Mulani said in the final speech at the same event on Thursday.

“Indonesia not only brings operating profits to AIB, but also we (we) also provide great experience as well as strong participation,” Indravati said.

“AIIB is not just a new bank. It’s now a global development force.”

While the US is not a member of AIIB, UK, France, Germany, listed in 110 Bank members under the guidance of ChinaLike Russia, Israel, Singapore and Vietnam. China has the largest share in AIB that takes 26.5% Share for voting.

AIIB provides loans to developing countries, mainly for infrastructure projects such as water and transport. AIIB is outdated in Beijing, said it approved 8.4 billion financing last year, Since the launch in 2016, the total amount of more than $ 60 billion.

On Wednesday, Lee called World Business Heads and Senior Representatives of the Government Cooperation and Avoid Inclusion of Trade into Political or Security Problems. Participation in the international economy is a way of “rebuilding the rules and order,” he said through an official translation into English.

He was talking At the annual conference of China, the World Economic Forum, called “Summer Davos”, which took place this year in Tianjin. He later met with business executives, including JD.com founder and chairman Richard Liu.

Chinese Trade Minister Van Vento and Zheng Shendzh, Head of the Country Economic Planning Agency, the National Development and Reform Commission, were present at the speeches and meetings with enterprises on Wednesday, state media reports.