People’s Bank of China governor Yi Gang (易纲) has flagged Beijing’s commitment to the provision of investment and financing to the Belt and Road initiative with the launch of a new joint institution with the IMF.
At the opening ceremony for the China-IMF Capacity Development Center (CICDC) held in Beijing on 12 April, Yi said that “financing is a key support for the establishment of Belt and Road…[we] must uphold the principles of enterprises as main actors and marketisation in providing sustainable investment and financial support for Belt and Road.”
According to Yi the Belt and Road initiative “must firstly make full use of developmental finance advantages, secondly continue to drive the Internet-based development of financial institutions and financial services, and thirdly make use of the role of international financial institutions and international financial centers.”
CICDC will provide professional training, support institutional development and foster communication for countries participating in Belt and Road, according to an official statement released by PBOC on Thursday.
The centre will also launch macro-financial training courses for officials from IMF member states, said IMF Managing Director Christine Lagard at the opening ceremony.