That is the verdict in a special report published today by S&P titled “China’s Belt and Road Initiative: Is This The World’s Largest Venture Capital Project?”
“[The] success of the Belt and Road Initiative (BRI) will ultimately rest on whether China's initial ‘seed money’ will create creditworthy projects that attract true private sector outside money,” said Paul Gruenwald, S&P Global Ratings’ chief economist.
“Seen in this way, the initiative is arguably the world’s largest attempted venture capital project”.
Another key measure of success is whether the Belt and Road can win local hearts and minds in the recipient countries.
The initiative aims to connect the Eurasian supercontinent through land and sea “Silk Roads” using infrastructure and industry projects.