Daily Times

Iversify its Belt and Road debt financing with more foreign direct investment, public-private partnerships, and equity investment, as opposed to commercial loans that could be more expensive.

But the initiative has been met with growing scepticism as some countries, such as Sri Lanka, became saddled with debt that they had difficulty in repaying.

One of the top recipients of China’s largesse, Malaysia, has recently stopped work on a $20 billion rail link between its east and west coasts, a rare setback for the Belt and Road initiative.

Zou said the Chinese government fully respects Malaysia’s decision-making and judgment, stressing the projects were inked on a commercial basis, and countries are free to vet and evaluate the terms of the projects.

“Malaysia adequately communicated with the China side on the issue. We respect Malaysia’s decision based on their debt sustainability analysis,” she said.

Published in Daily Times, October 14^th 2018.