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The concept of Blue Dot Network was officially launched on 4 November 2019 at the Indo-Pacific business forum in Bangkok, Thailand. United States will lead this project with other three countries , which are Japan, Australia and India. It forms the quadrilateral grouping. According to U.S-India issued a joint statement, Blue Dot Network will, be a multi stakeholder initiative that will bring governments, the private sector and civil sector society together to promote high quality trusted standards for global infrastructure development. It will upheld principles of transparency and financial viability. This project will have to follow the G-20 principles for quality infrastructure, aimed at sustainable lending and borrowing. India refused to join the china led Belt and Road initiative for trade among Asia, Europe and Africa that counts infrastructure development in member Nations. According to a November 2019 report, a free and open Indo-pacific. Advancing a shared vision by the US Department of state.(https://eastwestknowledge.com/indian-ocean/)
How does it help to BDN partners.?
A state who will join BDN as it member will boast it project capability efforts.The country who will get certification, adhering to the highest level of global standards.Private and public financing institution will reduce financing risks.The BDN will provide countries will clear project standards.Estimation of investment is 94 trillion dollar over the next two decades.
Leading Institutions of BDN.
U.S international Development Finance Corporation [DFC].This institution has an ability to invest 60 billion dollars.It will not only expand U.S foreign Policy objectives but also international development. On the other hand Japan and Australian institutions are Japan Bank for international cooperation [JBIC] and Department of foreign Affairs and Trade [DFAT].
Comparison b/w Financing abilities of BDN & BRI.
Its difficult to compare, very little information about the financing terms of BRI projects.It is allegedly reported that China Bank policy of china development bank and China Export-Import bank are not opaque. BDN is not fully appear and project financing details need to be clarified.
Does BDN counter BRI?
Experts, this is not a good response.U.S and its allies cannot compete China infrastructure project in the world.U.S will never spend the kind of money that Beijing is investing in BRI. U.S trillions of dollar pension and infrastructure funds looking for long term returns.
How U.S and its allies mitigate the risk factor.?
It includes environmental, social, health and safety risks, inflation, foreign exchange and other macro-economic risks, and contract dispute, weak rule of law, legal and political risks.
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