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China says Belt and Road initiative is not a debt trap

The Belt and Road initiative, first mentioned in a speech Chinese President Xi Jinping gave in Kazakhstan in 2013, is a vehicle for Beijing to take a greater role on the international stage by funding and building global transport and trade links in more than 60 countries.

world Updated: Aug 27, 2018 17:28 IST
Reuters
Reuters
Beijing
China,Belt and Road initiative,National Development Reform Commission
A senior official at China’s state planner said some countries’ high debt levels are long-standing and not to be blamed on the Belt and Road initiative. (AFP file photo)

China’s ambitious “Belt and Road” projects are not a debt trap, and some countries’ high debt levels are long-standing and not to be blamed on the initiative, a senior official at China’s state planner said on Monday.

Ning Jizhe, vice-chairman of the National Development Reform Commission (NDRC), made the remarks at a news conference in Beijing.

The Belt and Road initiative, first mentioned in a speech Chinese President Xi Jinping gave in Kazakhstan in 2013, is a vehicle for Beijing to take a greater role on the international stage by funding and building global transport and trade links in more than 60 countries.

First Published: Aug 27, 2018 17:28 IST