French former PM: Financing mechanism is the key to "B&R" Initiative

Photo：APD/Shan

Encountering a great deal of difficulties in economic development this year, many countries are studying on strategies and measures to boost their economy from a long term perspective. French former Prime Minister, Mr. Dominique de Villepin, attended “Belt and Road Summit-Financing Through Silk Road Bonds”, co-organized by International Capital Market Association(ICMA) and Dagong Global Credit Rating, in Hong Kong on September 8. He points out that the “Belt and Road” Initiative provides more room for international cooperation to stabilize the global economy.

In the interview, Mr. de Villepin claims that the European Union will keep a closer tie and explore more cooperation opportunities with China. “Belt and Road” Initiative, Mr. de Villepin believes, is an advantaged cooperation platform based on the common sense of two sides. From the view of Europe, Brexit will bring uncertainty to the UK and EU in a very short time. However, the negative influence of Brexit, from a long term perspective, is limited. Mr. de Villepin believes that the UK will keep a strong link with Europe afterwards. At the same time, the relationship between China and EU will not be affected and EU is going to actively participate in the “Belt and Road” Initiative. Mr. de Villepin states, “I think it is the common interest to find the right path and to find the right way to cooperate more between us and that’s why such an initiative is a positive project between the EU and China. I believe French who is interested in the relationship in central Asia, South East Asia, Middle East and Africa, can use this project, ‘Belt and Road’ initiative, to be more active and finance many project. It could also open new market for its companies as well as electrical products."

Regarding to financing projects, Mr. de Villepin believes that a well-organized financial market will help capital flow to the right project. He emphasizes that, “good financing is the key to ‘Belt and Road’ initiative. Financial market has to find a way to create new tools, such as green bonds, silk bond and etc.” These various financing tool will meet different financing requirements and bring profit to the investors, according to the specific conditions of alongside countries.

Furthermore, at the interview, Mr. de Villepin acknowledges the positive function of “Belt and Road” initiative which can make contributions in regional stabilization. Under the “Belt and Road” initiative, there are many environmental projects, like transportation project, airport construction, and electric power facility. Regional stability and growth can be achieved through these projects. Mr. de Villepin believes that, “If EU take the spirit of B&R, we can enable to stable the region and to share more growth which will come out in Africa through new project.”

（Xinhua Finance/Emma Yin）