Development finance with Chinese characteristics: financing the Belt and Road Initiative

Abstract

The Belt and Road Initiative (BRI) is clearly aimed at international development, and designed to jointly build a regional economic cooperation framework that is open, inclusive and balanced. Financial integration is the cornerstone of the BRI, and development finance is the most widely used mode of cooperation in financing. Development finance with Chinese characteristics is concessional and development-oriented, differing from Official Development Finance (ODF) defined by the OECD. Based on its development experiences, China applies development finance with Chinese characteristics to the BRI projects. This benefits countries along the Belt and Road by facilitating their sustainable development.