Belt and Road Initiative contributes to growth, sustainable development

Cambodian senate president Samdech Say Chhum said Monday that the Belt and Road Initiative proposed by China has been contributing to growth and sustainable development in Asia.

"We should enhance our comprehensive cooperation within the framework of the Belt and Road Initiative," he said during the opening ceremony of the 9th Asian Parliamentary Assembly in northwestern Siem Reap Province, which was attended by parliamentary presidents and representatives from about 25 countries.

He said the Asian Infrastructure Investment Bank (AIIB) with its authorized capital of 100 billion U.S. dollars, and the Silk Road Fund with China's contribution of 40 billion U.S. dollars, would provide the much needed capital for the development of transport infrastructure, telecommunications and energy in Asian countries.

"These provide financial resources to support the connectivity of infrastructure in our region, thereby contributing to peace, stability and close cooperation in Asia," he said, adding that the Belt and Road Initiative has also helped boost relations in trade, investment, tourism and culture among participating countries.

The Belt and Road -- the Silk Road Economic Belt and the 21st-Century Maritime Silk Road -- run through Asia, Europe and Africa, connecting the vibrant Asian economic circle at one end and developed Europe at the other.

The Belt is an overland network bringing together China, central Asia, Russia and Europe; linking China with the Persian Gulf and the Mediterranean Sea, and connecting China with Southeast Asia, South Asia and the Indian Ocean.

The Road is a maritime network designed to link China's coast to Europe through the South China Sea and the Indian Ocean in one route, and China's coast to the South Pacific through the South China Sea in another. Endit