Current Affairs

World Bank allocates $8 billion to China

The World Bank has allocated about $8 billion for the infrastructure projects of the Chinese initiative - Silk Road Economic Belt.

  • The round table meeting at Beijing, held on September 12  was in the "6 + 1" format with the heads of international financial and economic organizations. The heads were
  • Chinese Premier of the State Council Li Keqiang,
  • World Bank President Jim Yong Kim, 
  • Managing Director of the International Monetary Fund Christine Lagarde,
  • Director General of the World Trade Organization Roberto Azevedo, 
  • Director General of the International Labor Organization Guy Ryder 
  • Secretary General of the Organization for Economic Cooperation and Development Angel Gurria 
  • The initiative to create the Silk Road Economic Belt ("One belt - One road") was proposed by the Chinese President Xi Jinping in 2013. 
  • This project is aimed at creating a transport, energy and trade corridor between the countries of Central, Eastern, South Asia and Europe .
  • The Silk Road Economic Belt comprises 6 corridors which connect five central Asian countries, Iran and the Persian Gulf region, Transcaucasia, Turkey and the Saudi Arabian peninsula.
World Bank allocates $8 billion to China World Bank allocates $8 billion to China Reviewed by Admin on September 19, 2017 Rating: 5

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