China pledges USD122bn at Silk Road

China pledges USD122bn at Silk Road

As world leaders gathered in Beijing for the Silk Road Summit in May, Chinese president Xi Jinping pledged USD122bn for infrastructure projects under the ‘One Belt, One Road” (OBOR) initiative.

The Chinese strategy sees high-speed railways, bridges, roads, ports, industrial parks, oil pipelines and power grids now being built across the ancient Silk Road routes from Mongolia to Malaysia, Thailand to Pakistan and Laos. 

ASEAN nations, including Cambodia, have been key recipients of Chinese infrastructure funding support under the OBOR initiative and Cambodian prime minister Hun Sen also attended the summit. 

China has promised to import over USD2 trillion of products from OBOR-participating nations, according to Reuters news agency. 

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