By Amar Diwakar
In a short span of time, China has taken the lead in establishing an impressive array of international financial institutions to fuel its Belt and Road Initiative (BRI) – President Xi Jinping’s signature $8 trillion infrastructure investment plan spanning Asia, Europe and Africa. These include the Asian Infrastructure Investment Bank, the Silk Road Fund, the New Development Bank, and the Contingent Reserve Arrangement.
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A study published in March by the Center for Global Development identified 23 countries involved in hosting BRI-funded projects that are at risk of debt distress, eight of which are assessed to be highly vulnerable.
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