By Michael Igoe
From the article:
WASHINGTON — In the 18 months since the World Bank signed on as a partner to China’s Belt and Road Initiative, the risks associated with the massive infrastructure investment effort have begun to crystalize, prompting some observers to ask just what kind of a partner the World Bank plans to be.
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In 2019, the bank plans to release the results of its research into the economics of the massive initiative. Based on the information the bank has shared publicly so far, it seems to have a clearer picture of the potential benefits than it does of the potential risks of the initiative, said Scott Morris, senior fellow at the Center for Global Development.
“They’re doing some very good detailed data work, which will ultimately be helpful to the Chinese and to the countries that are participating. At a higher level, their overarching framing of it leans toward being too friendly to the initiative and isn’t playing the role of constructive critic as much as I would like them to be,” Morris said.
What would be more helpful, according to Morris, would be for the bank to look more closely and more critically at the principal lending institutions involved in Belt and Road.
“There are official lenders, and we know them — China Development Bank, China [Export-Import Bank] — these are the big ones. And if we simply made a priority of focusing on their priorities and practices, I think we would get a long way toward fixing problems,” he said.
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