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Build Back Better World scheme could challenge the BRI

Friday, July 16, 2021

Significance

The aspiration is to offer a high-standard, sustainable alternative to the BRI. However, B3W currently lacks details or financial commitments. It is not clear whether it involves new aid funding or will draw on existing resources.

Impacts

  • Western-sponsored infrastructure activities have experienced delays and the B3W may struggle to be seen as a viable alternative to the BRI.
  • The B3W focuses on climate, health, tech and gender while the BRI focuses on physical infrastructure so they could complement each other.
  • The B3W plan to spend more on aid comes as nations emerge from the COVID crisis with budgets stretched; the UK aid budget has been cut.
  • The focus on rallying private capital means that B3W project profitability is key; openness and sustainability will also be scrutinised.

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