{"id":52826,"date":"2019-06-20T14:31:52","date_gmt":"2019-06-20T09:31:52","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=52826"},"modified":"2019-06-20T14:31:52","modified_gmt":"2019-06-20T09:31:52","slug":"bri-cut-poverty-rate-developing-countries-wb","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/bri-cut-poverty-rate-developing-countries-wb.html","title":{"rendered":"BRI to cut poverty rate in developing countries: WB"},"content":{"rendered":"<p>Lahore: The World Bank (WB) has revealed that China\u2019s massive Belt &amp; Road Initiative (BRI) could reduce poverty rate in dozens of developing countries, a news source reported.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/establish-bri-tourism-corridor-pm-imran.html\" target=\"_blank\" rel=\"noopener noreferrer\">Establish a BRI Tourism Corridor, PM Imran<\/a><\/p>\n<p>In its report, the international institution stated that the initiative, if fully implemented, could bring around 32 million people out of moderate poverty conditions.<\/p>\n<p>It also stressed on the need to implement policy reforms and ensure more transparency in the poverty alleviation project. WB Vice President for Equitable Growth Ceyla Pazarbasioglu stated that for achieving BRI objectives, the participating countries would have to implement equally ambitious reforms.<\/p>\n<p>She highlighted several reforms that require immediate implementation. These regulatory measures include enhancing the transparency and data reporting procedures (especially surrounding debt issues), open-government procurement policies, and meeting highest social and environmental standards.<\/p>\n<p>The WB has also revealed that participating economies could accelerate real income growth by two to four times if their governments take steps to ease trade restrictions, as well as introduce reforms for cutting border delays.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/tax-administration-mechanism-for-chinas-belt-and-road-initiative-introduced.html\" target=\"_blank\" rel=\"noopener noreferrer\">Tax administration mechanism for China\u2019s Belt and Road initiative introduced<\/a><\/p>\n<p>The report added that while the private sector\u2019s participation in the project would sustain it in the long-run, the participating counties needed to improve their investment climate. The report stated that these countries should also focus on introducing more stringent legal protection and regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The World Bank (WB) has revealed that China\u2019s massive Belt &amp; Road Initiative (BRI) could reduce poverty rate in dozens of developing countries, a news source reported. Read:\u00a0Establish a BRI Tourism Corridor, PM Imran In its report, the international institution stated that the initiative, if fully implemented, could bring around 32 million people out of moderate poverty conditions. It also stressed on the need to implement policy reforms and ensure more transparency in the poverty alleviation project. WB Vice President for Equitable Growth Ceyla Pazarbasioglu stated that for achieving BRI objectives, the participating countries would have to implement equally ambitious reforms. She highlighted several reforms that require immediate implementation. These regulatory measures include enhancing the transparency and data reporting procedures (especially surrounding debt issues), open-government procurement policies, and meeting highest social and environmental standards. The WB has also revealed that participating economies could accelerate real income growth by two to four times if their governments take steps to ease trade restrictions, as well as introduce reforms for cutting border delays. Read:\u00a0Tax administration mechanism for China\u2019s Belt and Road initiative introduced The report added that while the private sector\u2019s participation in the project would sustain it in the long-run, the&hellip;<\/p>\n","protected":false},"author":18,"featured_media":48190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11947],"persona":[],"class_list":["post-52826","post","type-post","status-publish","format-standard","has-post-thumbnail","tag-details-on-bri-to-cut-poverty-rate-in-developing-countries-wb"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BRI to cut poverty rate in developing countries: WB - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The World Bank (WB) has revealed that China\u2019s massive Belt &amp; Road Initiative (BRI) could reduce poverty rate in dozens of developing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/bri-cut-poverty-rate-developing-countries-wb.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRI to cut poverty rate in developing countries: WB - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The World Bank (WB) has revealed that China\u2019s massive Belt &amp; 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