Chinese firms involved in the China Pakistan Economic Corridor (CPEC) are demanding timely payments for their power sector projects, as overdue payments have exceeded $1.2 billion, potentially making it unsustainable for them to continue their operations. They are also urging the government to establish a revolving fund and ensure stability and security in the country to attract more investment.
The US, Saudi Arabia, India, and other nations are discussing a potential infrastructure deal to enhance trade between the Gulf and South Asia through railways and ports, in an effort to counter China's Belt and Road initiative.
China's Belt and Road Initiative, which has expanded global investments and trade, is facing challenges due to economic slowdown, defaults, and the impact of COVID-19, leading President Xi Jinping to prioritize profitability in projects and explore new approaches to economic assistance.
US President Joe Biden described India's plan to build a rail and shipping corridor linking India with the Middle East and Europe as a "game-changing investment" during the G20 Summit, aiming to boost trade, transport energy resources, and improve digital connectivity.
India, along with several countries including the UAE, Saudi Arabia, EU, France, Italy, Germany, and the US, will launch an economic corridor connecting India, the Middle East, and Europe, which is expected to significantly boost trade and connectivity.
India, along with the US, EU, Saudi Arabia, and UAE, has signed a deal to establish the India-Middle East-Europe Economic Corridor (IMEE EC) as an alternative to China's One Belt One Road (OBOR) initiative, aiming to provide faster and cheaper transportation options to west Asia and Europe.
The India-Middle East-Europe Economic Corridor (IMEC), considered an alternative to China's Belt and Road Initiative, is being hailed as the "largest cooperation project in our history" by Israeli Prime Minister Benjamin Netanyahu, who believes it will reshape the Middle East and benefit the entire world.
A new multibillion-dollar rail and shipping corridor called the India-Middle East-Europe Economic Corridor was announced at the G20 summit, which aims to enhance connectivity and integration between participating countries and boost economic growth in the Middle East.
The plan by the U.S. and India to build an alternative to China's Belt and Road Initiative could lead to better deals for countries along the route and is seen as healthy competition by participants at a conference in Hong Kong.
India-Middle East-Europe Economic Corridor, proposed by India, the US, United Arab Emirates, and Saudi Arabia, aims to create shipping and railway links that will connect Europe and the Middle East to India and counter China's 'Belt and Road' initiative.
Western countries have an opportunity with the Partnership for Global Infrastructure and Investment (PGII) to counter China's struggling Belt and Road Initiative by providing a credible infrastructure plan for developing countries, but the financing and transparency of the PGII still need to be addressed.
India, along with the US, UAE, Saudi Arabia, France, Germany, Italy, and the EU, announced the India-Middle East-Europe Economic Corridor (IMEC) as a strategic move to counter China's Belt and Road Initiative.
