As the Belt and Road Initiative (BRI) marks its 10th-year anniversary this year, a Nigerian expert in international affairs, Dr Austin Maho, has hailed the Chinese government for introducing the massive global infrastructure connectivity network that has boosted development in Nigeria and other parts of the world through the initiative.
Maho told our correspondent that China’s effort in building the global partnership for sustainable development has also led to advancement in policy, trade, finance and people- to-people connectivity in virtually all sectors of the economy.
He said “ the BRI in 10 years has established China’s footprint around the globe in terms of infrastructure financing especially in the areas of building bridges, roads and railway lines that enhance people -to- people connectivity and communication.
“Just like the old silk road which the BRI is modelled after, its purpose is to create wealth along its route by recreating the old silk road and extending it to Africa through a new maritime silk road.”
He noted that since Chinese President Xi Jinping unveiled the BRI in September 2013, it has been a vehicle for the promotion of economic prosperity and regional cooperation, mutual learning between civilizations, and promotion of world peace, growth and development.
He pointed out that the BRI is the centrepiece of China’s foreign policy, and signifies the rise of the once sleeping giant and its preparedness to play a greater role in world affairs in line with its rising power and global influence.
He said further “the initiative is the largest infrastructure and investment project in history covering more than 150 countries with China spending over $4 trillion on infrastructure investments as at the end of 2023. BRI projects are spread all over the world.”
He added that Nigeria has been a major beneficiary of BRI projects . Some of these projects include the Abuja-Kaduna rail line, built by China Civil Engineering Construction Company (CECC); the Abuja- Keffi -Lafia- Makurdi road dualisation which was successfully completed by China Harbour Engineering Company (CHEC); the Zungeru Hydroelectric project undertaken by Sino Hydro and a host of other projects.
“Perhaps of most importance is that these projects are wholly financed by the Chinese Exim Bank through the provision of concessionary loans or counterpart funding.
“The projects are designed in such a way that they can pay for themselves or have the capacity to generate wealth and increase trade and income for the people.
“Ten years on, the Belt and Road Initiative has expanded China’s footprint around the world, promoting development and shared prosperity,” he added.
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