China's One Belt, One Road initiative - Diplomacy and International relations
Q. Which of the following statements are correct about One Belt, One Road initiative?
1. Under this project china will improve local ports and construct a modern standard-gauge rail link between Nairobi and Mombasa.
2. China will create a 40 billion USD development fund.- Published on 18 Aug 15a. Only 1
b. Only 2
c. Both 1 and 2
d. None of the above.
ANSWER: Both 1 and 2
The Asian Infrastructure Investment Bank founded by China in 2014 with the participation of 56 other countries is a development bank dedicated to lending for projects that are part of the initiative. Besides the loans provided by AIIB , China will create a 40 billion USD development fund. The Karot Hydropower Station in Pakistan as the first investment project of the Silk Road Fund.
