27 OBOR partner nations have 'garbage' level sovereign credit: Singapore daily
ANI | Updated: Nov 07, 2017 17:05 IST
According to Singapore's primary Chinese language newspaper Lianhe Zaobao, several international studies have shown that when the top three international rating agencies ranked 68 OBOR partner countries, 27 showed they suffered from "garbage" level sovereign credit.
Out of the 41 remaining nations, 14, including Afghanistan, Iran and Syria, were either not rated, or respective governments withdrew their rating requests.
"The Belt and Road" plan estimates that, over a ten year period, it will achieve a spending level of USD 1.2 trillion on such infrastructure projects as railways, roads, ports, and power grids.
Financial and banking experts have suggested that it would be a better idea to classify the plan as a geo-political investment rather than a profitable financial program.