- This event has passed.
IRF, CHTS & BSEC Side Event at the 2019 ITF Summit
May 22, 2019 @ 11:00 am - 12:30 pm CEST
The Belt & Road: Bridging the gaps for sustainable transport and growth in Eurasia
Launched in 2013, the Belt and Road Initiative (BRI) aims to alter the socio-economic landscape along the Silk Road linking Asia and Europe. The first phase of these multi-billion dollar infrastructure investments focusses on developing and modernising means of transport covering highways, railways, ports, airports and pipelines.
This “Modern Silk Road”, for which China invests several billions of dollar a year, aims to make Eurasia a thriving economic trading area. To advance this cause, China has entered into bilateral agreements with most of the countries from Eastern Europe to Southeast Asia.
Current estimates for required funding range between USD 4 to 10 trillion for the coming decade. To date, most financing has been provided by governments and multilateral and commercial banks. However, as this is finite, private investors, typically reluctant to allocate resources to riskier long-term projects, must be sufficiently encouraged to invest and yields must therefore be attractive.
Besides funding, substantial reforms, such as improving financial integration and trade liberalisation, must be implemented within and outside of China.
This session contributes to the BRI debate by discussing key questions:
1. What measures must be implemented to incentivise investments in these projects?
2. What is required to create conducive environments for the development of sustainable transport infrastructure projects?
3. How can international cooperation and coordination be maximised?
SESSION ORGANISER: International Road Federation (IRF)
SESSION CO-ORGANISERS: China Highway and Transportation Society (CHTS), Black Sea Economic Commission (BSEC)