INP-WealthPk
BRI frames policy solutions for post-COVID world: Wilton Park
September 09, 2020
BEIJING, Sep 9 (INP): A four-day virtual meeting, themed BRI frames sustainable policy solutions for the post-COVID world developed cooperative partnership to fight the virus on permanent basis, Gwadar Pro reported on Wednesday.
The meeting, organized by Wilton Park, an executive agency of the Foreign, Commonwealth and Development Office of UK to be concluded on September 10.Relative scholars and representatives from Pakistan also participate in the event. A total of 70 participants, including representatives from UNDP, Organisation for Economic Co-operation and Development (OECD), Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), World Resources Institute (WRI) and other international organizations, attended the meeting.
According to Wilton Park, BRI has rapidly become a landmark program for international infrastructure development due to its massive scale, speed, and range of international partnerships.The focus of this dialogue is on BRI energy infrastructure investment in Southeast, South and Central Asia, covering projects such as electricity generation capacity, grids, and mini grids.
As a regionally focused breakout group in this sector, Pakistan is considered as a model nation which brings to fruition opportunities for green investment under BRI. Sara Ahmed, V20 Finance Advisor, V20 Secretariat, Climate Vulnerable Forum, listed the ‘shovel ready’ sustainable energy projects in Pakistan such as SK Hydropower Station, Dawood Wind Farm and Bahawalpur Solar Park.He believed that they are sustainable development outcome brought by BRI to host countries.
Energy infrastructure investment is a critical component of the ability for BRI countries to meet the ambitions outlined by the Paris Agreement and Sustainable Development Goals (SDGs).Greater BRI investment in low carbon energy, particularly in the context of COVID-19, holds enormous potential as well to initiate and accelerate post-COVID economic recovery and growth in BRI countries as well as bring major gains in terms of jobs created and improved public health.
Fang Qiu Chen, the Chairman of China International Contractors Association (CHINCA), suggested in forum that, host governments should create a stable and convenient policy environment for green investment, reduce fossil fuel subsidies, and promote the formulation and improvement of relevant policy frameworks. Meanwhile, governments should encourage the introduction of private capital to invest in energy projects to alleviate the problem of insufficient investment in energy infrastructure.Chinese enterprises also will be more involved in the investment and construction of renewable energy projects such as photovoltaic, wind power and garbage power generation which can improve the sustainability of host countries along BRI.
INP/JAVED
