COUNTERING SKEPTICISM
In response to some skepticism about the BRI, many participants at the forum said the concerns, most notably regarding debt problems, were exaggerated.
Enrique Garcia, former president and CEO of the Development Bank of Latin America, said most of the skepticism about the BRI is due to political reasons.
Referring to the so-called debt traps, Kohli said China does not have the intention of laying traps for other countries.
"I do not agree with that at all," he said.
Pakistan has not assumed any financial burden for taking part in the BRI, said Husain, explaining that the vast majority of the funds entering Pakistan are in the form of foreign direct investment and only very few of the funds are in forms of loans.
Husain said that among the loans given to Pakistan, some are government loans with an interest rate of 2 percent, while commercial loans, though more expensive, are "very few in nature."
"The International Monetary Fund also has examined the Chinese loans, and they accept that this is not going to create any additional burden on Pakistan," he said.
Adviser to Pakistani Prime Minister Ishrat Husain receives an interview at the Global Meeting of the Emerging Markets Forum (EMF) in Leesburg, Virginia, the United States, Oct. 20, 2019. (Xinhua/Liu Jie)
Zhanseitov believes some of the fears surrounding the BRI result from a lack of information. "Sometimes people are being too dramatic about things they don't really understand," he said.
FUTURE COMMITMENTS
After witnessing the achievements the BRI has scored over the past six years, many attending the forum expressed their willingness to become involved with the BRI in the future.
Kohli said the BRI could play a key role in the development of many countries, in terms of infrastructure construction, industrial development and agriculture.
"One of the major shortages and constraints for development in most emerging markets is capital, and the BRI provides that," Kohli said.
Garcia, noting that the BRI is only in its early stages in Latin America, said he looks forward to the initiative making more contributions to the region based on its successful track record in Asian and African countries.
Officials and experts around the world participate in the Global Meeting of the Emerging Markets Forum (EMF) in Leesburg, Virginia, the United States, Oct. 20, 2019. (Xinhua/Liu Jie)
"I would recommend Latin American countries to be more involved in the BRI," he said.
For his part, Mikheil Janelidze, former vice prime minister and minister of foreign affairs of Georgia, said he hopes that his country could be further integrated into the BRI, and play a bigger role.
