Investments in China’s much-touted Belt and Road Initiative (BRI) have fallen by 54 per cent since 2019 and Beijing is no longer doling out hard cash for projects in Africa, amid criticism over infrastructure debt and loan defaults, according to a think-tank report.
The BRI is a multi-billion-dollar initiative launched by Chinese President Xi Jinping when he came to power in 2013. It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes. Xi launched BRI to undertake big infrastructure projects in the world which in turn would also enhance Beijing’s global influence.
