economy
  • Multilateral financiers urged to fund global infrastructure
  • inputtime:2015-07-16 20:16:43  Hits:   Auto:qin cong
  • Global partnership has been called for to unlock and mobilize multiplying finance for infrastructure by partnering with Chinese stakeholders to fund the massive global demand for infrastructure.This came on Wednesday at a side event of the 3rd International Conference on Financing for Development being held from July 13 to 16 in Ethiopia's capital Addis Ababa.The side event was organized for topic on the 1-trillion-U.S. dollar Chinese outbound infrastructure financing through the One- Belt-One-Road (OBOR) framework, and ways of collaboration by international funders and capital markets to partner with the Chinese initiatives.China's "One Belt One Road" initiative will mobilize about a trillion dollars of state financing for infrastructure for 65 countries over the next 10 years, via a myriad of initiatives including the Asian Infrastructure Investment Bank (AIIB), the Silk Road Fund, and other tools.Many Chinese companies, but also some international private sector players and host governments, will be beneficiaries of this, said a statement during the event.However, as large as this amount is, it is only a fraction of the infrastructure demand in the covered area, where transport demand alone for the next 5 years is conservatively estimated at 5 trillion dollars. In his remarks on the occasion, Matia Kasaija, Uganda's Finance Minister, has hailed China's role in financing infrastructure in Africa in general and in his country in particular.