Belt and road without China? If competitors join, it may just be possible

Global competitors may soon join the fray. Standard Chartered Plc said it plans to allocate as much as $20 billion in coming years to Belt and Road projects

Italy’s new role in the Belt and Road Initiative has alarmed G-7 allies fearful of China’s expanding reach. Give it time: This project is going to look a lot less Chinese as it unfolds.

At the moment, the heft of the funding for President Xi Jinping’s global infrastructure project comes from policy banks, such as China Development Bank and the Export-Import Bank of China. The $40 billion state-backed Silk Road Fund, and to a lesser extent, the Asia Infrastructure Investment Bank also contribute. 

Global competitors may soon join the fray. Standard Chartered Plc said it plans to allocate as much as $20