Repaying Chinese loans is not easy because unlike other official lenders such as the World Bank that provide finance at concessional, below-market interest rates, and longer tenures, China tends to lend at market terms, at interest rates close to those prevailing in private capital markets. Additionally, the Chinese insist on collateral, meaning that debt repayments are secured by assets or future revenues.
India has been opposing China's BRI as its key project -- China-Pakistan Economic Corridor (CPEC) -- passes through the Indian territory of Jammu and Kashmir under the illegal occupation of Pakistan.
China is about to celebrate ten years of its infrastructure building Belt and Road Initiative BRI) a symbol of its rise as a global power and a defining feature of its foreign policy which it touts as its gift to the world it claims to have created more than 420,000 lakh jobs and lifted 40 million people out of poverty.
On the heels of China's announcement on the debt treatment agreement for nearly $4.2 billion debts, Sri Lanka President Ranil Wickremesinghe left for China on Sunday night.
In the shadow of the Afghan conflict’s ever-shifting sands, China has made a calculated move that reverberates not just within…
Asked if China had asked India to participate in the forum to be held this month, the source did not give a straight reply but stated that Beijing had been requesting New Delhi to reconsider its decision.
The BRI is still in its early stages – and much remains to be understood about the impact it will have on the urban landscape.
It all started with Chinese President Xi Jinping hosting PM Modi in Wuhan in April in an informal setting for a summit that provided an opportunity to the two leaders to discuss ways to put the past behind and open a new chapter in bilateral ties.
The Japanese Embassy in New Delhi confirmed that Kono would hold various engagements, including meetings with leaders of the Indian Government.
Based on the success of the AAGC initiative in Africa, the two countries would undertake joint projects in Asia, the source added. Japan was also investing in connectivity and infrastructure project in India's North-Eastern region.
