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Partnerships for Infrastructure Development in North-East Asia: A Pathway to a Secure and Prosperous World

This article highlights the importance of partnerships in infrastructure development in North-East Asia for the implementation of the Sustainable Development Goals (SDGs). It discusses the infrastructure development level in North-East Asia and the priority development partners, as well as the financial resources available for such partnerships. The article also explores the Belt and Road Initiative and its goals, interests, and restrictions for the Eurasian Economic Union (EAEU). It concludes with recommendations for the implementation of investment projects through public-private partnerships and financial and credit mechanisms.

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Partnerships for Infrastructure Development in North-East Asia: A Pathway to a Secure and Prosperous World

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  1. Partnerships for Infrastructure Development in North-East Asia North-East Asia Development Cooperation Forum 2017: Development cooperation in SDG implementation for a more secure and prosperous world Dr. Yury K. Zaytsev, Cand. Sc. (Economics), Senior Research Fellow, Institute of Applied Economic Science, Russian Academy of National Economy and Public Administration 28-29 September, Moscow

  2. Infrastructure Development Level in Countries of North-East Asia and their Priority Development Partners Source: World Bank Development Indicators, 2016. NB: the partner countries that are the focus of the south–south cooperation have much larger infrastructure problems than regional economic leaders

  3. Financial Resources • Silk RoadFoundation • New Development Bank • Eurasian Development Bank • Asian Infrastructure Investment Bank • USD 40 billion • USD 50 billion • USD 100 billion • USD 7 billion Complements, rather than replaces existing financial institutions in both the public and private sectors economic development initiative primarily covering Eurasia

  4. The Structure of Belt and Road Initiative The goal: to connect China and Europe through the South China Sea and the Indian Ocean Participants: China, ASEAN countries The goal: to connect China to Europe through Central and South-West Asia Participants: China, EAEUand Middle East countries

  5. The Goals of the Belt and Road Initiative

  6. Interests and restrictions for EAEU in conjunction with the Belt and Road Initiative • It is necessary to increase the presence of China in its market, which may not appeal to local stakeholders • But it is necessary to take into account the interests of all EAEU partner countries • China is mostly interested in projects in the field of mining, energy and infrastructure construction, with using its own equipment and labor. • The Russian economy has a low investment attractiveness, in particular because of the ineffective operation of institutions. • It is necessary to invest independently in the development of Russia’s infrastructure that competes with the route through Kazakhstan, but Russia now does not have the sources for such investments • It is difficult to compete with China, which has large funds to increase its investment in the region

  7. The coincidence / inconsistency of the interests of the EAEU and China in the process of junction

  8. EAEU and the Belt and Road Initiative conjugation scenarios

  9. Public private partnerships Joint Production Financial mechanisms Recommendations • The mechanisms for the implementation of investment projects in the framework of conjunction of the EAEU and the Belt and Road Initiative • An important advantage of PPP is the use of project finance method for the implementation of the infrastructure development projects Financial and credit mechanisms for attracting Chinese investments (Grants, participation in chapter capital, etc.) • Creation of joint productions with Chinese investors providing equipment and technology

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