China’s Belt & Road will reduce poverty, but lacks transparency: World Bank


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China’s Belt & Road will reduce poverty, but lacks transparency: World Bank

On Tuesday, the 18th of June 2019, World Bank, the largest lender across the globe for poor, developing and emerging countries had published a report saying that the massive Belt and Roar infrastructure project of China could reduce poverty and boost up development over dozens of developing countries, however the report had called for further policy reform alongside transparency.

Besides, the long-anticipated World Bank’s report over China’s Belt and Road Initiative had added that the havoc-scale project to build a string of ports, roads, railways and bridges alongside other roadside investments to connect Chine and Europe through Central and Southern Asia could help as little as 32 million people to escape a moderate poverty conditions, if implanted properly.

None the less, adding that still there had been significant extent of risks involved over transparency issue, the World Bank vice president for equitable growth, Ceyla Pazarbasioglu said at a statement on Tuesday (June 18th) following the reveal of the report, “Achieving the ambitions of the Belt and Road Initiative will require equally ambitious reforms from participating countries.

Improvements in data reporting and transparency - especially around debt - open government procurement, and adherence to the highest social and environmental standards will help significantly”.