News International How Blue Dot Network save developing countries from China's Debt Trap

How Blue Dot Network save developing countries from China’s Debt Trap

 

BLUE DOT NETWORK

During US President Donald Trump visit to India, many important talk’s happened in between both the countries that need a detailed discussion such as talk on Defense relation, Trade Deal, Science, Technology, Blue Dot Network is also among those discussion, but it was unfortunately overlooked by media. Let’s dive into Blue Dot Network.

Before heading towards Blue Dot Network we need to talk on China ambitious project Belt and Road Initiative (BRI).

The Belt and Road Initiative is a global development strategy adopted by the Chinese government in 2013 involving infrastructure development and investments in nearly 70 countries and international organizations in Asia, Europe, and Africa. With the help BRI China want’s to rejuvenate the famous Silk Road.

Under this initiative China offers loan to developing or under develop countries for their infrastructure projects and later controlling them if they fail to pay off their loans in time.

Countries like Maldives, Sri Lanka, Pakistan, were already trapped in China debt diplomacy. These countries didn’t able to earn any profit from different infrastructure projects made by China in name development.

Blue Dot Network aims to save developing countries to take Loan from China for unnecessary infrastructure projects.

Blue Dot Network

Blue Dot Network has been jointly launched by the US Overseas Private Investment Corporation (OPIC), Australia’s Department of Foreign Affairs and Trade (DFAT), and Japan Bank for International Cooperation (JBIC). BDI formally announced on 4 November 2019 during Indo-Pacific ASEAN Summit.

The Blue Dot Network will bring together governments, the private sector, and civil society under shared standards for global infrastructure development.

The network will certify infrastructure projects that demonstrate and uphold global infrastructure principles.
Certification by the Blue Dot Network will serve as a globally recognized symbol of market-driven, transparent and financially sustainable development projects.

How Blue Dot Network save developing Countries from Chinese Debt Trap Diplomacy

The Blue Dot Network will provide information free of cost to those countries where China trying to provide credit for infrastructure projects.

Blue Dot Network will provide the full analysis on What the future of project, potential of the project or is the project commercial viable, and the most important question weather a particular country even need these infrastructure.

Blue dart network will examine the sustainability of the project

Mostly these countries were not able to analyse the importance of the project because of the resource barrier.

China generally used to invest in those countries Where foreign investors is not interested. That’s why most of the country fall in the Captivating offers made by China without even analyzing.

India may join Blue Dot Network to minimize the Chinese presence from South Asian region.

Aditya Raj
Writer & Co-founder of InfotOnline.

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