China’s Xi announces over US$100 billion in new Belt and Road funding

According to him, both will create 350 billion renminbi( US$ 47.9 billion ) in financing options for BRI jobs.

The Silk Road fund, the project’s standard lending organization, will receive an additional 80 billion yuan, according to Xi.

The conference this week, which was attended by ambassadors from 130 nations, is the second significant summit of its kind that Beijing has hosted since the Belt and Road was established in 2013.

Foreign companies’ BRI projects have long been accused of having transparent prices, and nations like Malaysia and Myanmar are renegotiating agreements to lower costs.