Explorer

27 OBOR partner nations have 'garbage' level sovereign credit: Singapore daily

Beijing [China], November 7 (ANI): Most of the projects forming part of China's grand "Belt and Road" plan have come up short in terms of sound financial returns, a Singapore daily has said.

According to Singapore's primary Chinese language newspaper Lianhe Zaobao, several international studies have shown that when the top three international rating agencies ranked 68 OBOR partner countries, 27 showed they suffered from "garbage" level sovereign credit.

Out of the 41 remaining nations, 14, including Afghanistan, Iran and Syria, were either not rated, or respective governments withdrew their rating requests.

"The Belt and Road" plan estimates that, over a ten year period, it will achieve a spending level of USD 1.2 trillion on such infrastructure projects as railways, roads, ports, and power grids.

Financial and banking experts have suggested that it would be a better idea to classify the plan as a geo-political investment rather than a profitable financial program.

China has so far spent or committed to spend over USD 500 billion, which does not include large commercial bank loans. The source for most of this spending is China-backed investment funds. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections: Report
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Advertisement
for smartphones
and tablets

Videos

Mukhtar Ansari Death: Krishnanand Rai family's reaction and statement over gangster's demiseABP SHIKHAR SAMMELAN 2024: Rajnath Singh Over 'Raksha Sutra' Of Mission 400 | ABP NewsMukhtar Ansari Death: Gangster's Passing and Graveyard Arrangements, watch ground report | ABP NewsABP SHIKHAR SAMMELAN 2024: 'People Might Ask To Reveal Who Voted For Whom Soon': Rajnath On Electoral Bonds
Embed widget