The paper examines the motivations, financing, expansion and challenges of the Belt and Road Initiative (BRI). The BRI was initially designed to address China’s overcapacity and promote economic growth in both China and in countries along the “Belt” and “Road” through infrastructure investment and industrial capacity cooperation. It took into account China’s strategic transition in its opening-up policy and foreign policy to pay more attention to the neighboring countries in Southeast Asia and Central and West Asia when facing greater strategic pressure from the United States in East Asia and the Pacific region. More themes have been added to the initiative’s original framework since its inception in 2013, including the vision of the BRI as China’s major solution to improve international economic cooperation and practice to build a “community of shared future for mankind”, and the idea of the Green Silk Road and the Digital Silk Road. Chinese state-owned enterprises and policy and commercial banks have dominated investment and financing for BRI projects, which explains the root of the problems and risks facing the initiative, such as unsustainable debt, non-transparency, corruption and low economic efficiency. Measures taken by China to tackle these problems, for example, mitigating the debt distress and improving debt sustainability, are unlikely to make a big difference anytime soon due to the tenacity of China’s long-held state-driven investment model.

In this policy insight, the author lays out the context of the BRI and its role in global development. He also explains why the US should consider working with China on the BRI. The author opines on China’s possible approach and strategy to get global private investors to come on board for the massive BRI projects. He suggests that the global players can establish a third-party market cooperation and coordination mechanism to turn the BRI into a platform for win-win global collaboration.

Over several centuries, the native vegetation of the flat part of the Bogotá Savanna has been almost completely replaced by crops, pastures and urbanization. The last remnant of this vegetation is a small forest (10 hm²), located at Hacienda Las Mercedes on the northern edge of the city of Bogotá. The reduced size and isolation of the forest, aggravated by the uncontrolled growth of invasive vegetation (lianas and wild blackberry) has resulted in the loss of many species. However, in recent years the forest has been subject to rehabilitation actions and currently the area is immersed in a reserve where more extensive restoration programs are planned. In order to evaluate changes in the bird community to estimate the effects of restoration actions, the avifauna present in 2001–2002 and in 2014 was recorded by visual and auditory records at fixed points in the forest. Twenty-seven forest species were found in the first census and 30 in the second, and the relative abundances of at least a third of them also increased over the 13 years, indicating a positive result in the recovery of the forest. The results highlight the recovery capacity of the degraded ecosystems and the importance of continuing with restoration actions in the reserve area.

Cross-border infrastructure projects offer significant economic and social benefits for the Asia-Pacific region. If the required investment of $8 trillion in pan-Asian connectivity was made in the region’s infrastructure during 2010–2020, the total net income gains for developing Asia could reach about $12.98 trillion (in 2008 US dollars) during 2010–2020 and beyond, of which more than $4.43 trillion would be gained during 2010–2020 and nearly $8.55 trillion after 2020. Indeed, infrastructure connectivity helps improve regional productivity and competitiveness by facilitating the movement of goods, services and human resources, producing economies of scale, promoting trade and foreign direct investments, creating new business opportunities, stimulating inclusive industrialization and narrowing development gaps between communities, countries or sub-regions. Unfortunately, due to limited financing, progress in the development of cross-border infrastructure in the region is low.

This paper examines the key challenges faced in financing cross-border projects and discusses the roles that different stakeholders—national governments, state-owned enterprises, private sector, regional entities, development financing institutions (DFIs), affected people and civil society organizations—can play in facilitating the development of cross-border infrastructure in the region. In particular, this paper highlights the major risks that deter private sector investments and FDIs and provides recommendations to address these risks.

The study evaluated the aseptic establishment of Monstera acuminata Koch and Monstera deliciosa Liebm (Araceae) from leaves and the induction of in vitro organogenesis of M. acuminata K. from stem discs of young shoots. For this purpose, different disinfection protocols were applied to mature leaves and young shoots, from which leaf explants of approximately 1 cm² and stem discs of approximately 1 mm thickness were extracted. The explants were established in semi-solid media with different hormone treatments during the aseptic establishment stage and induction of organogenesis. Disinfection with 3% sodium hypochlorite (NaClO) for 20 min and 50% Murashige and Skoog^[1] medium with plant tissue culture preservative (PPM) favored less oxidation in leaf explants of both species. All explants of M. deliciosa in both treatments grown in PPM-added medium and at different disinfection protocols survived, showed no contamination and more than 80% retained cellular activity up to 49 days of culture age. At 35 days of culture, with disinfection in Tween-20 + 20% ethanol + 2.5% NaClO, and seeding of explants in MS medium added with 1 mg/L of BAP, 0.5 mg/L of AIA and 0.1 mg/L of ANA, seven new shoots of stem discs were induced. Monstera deliciosa was more adaptable to in vitro conditions. Advances in aseptic establishment and induction of organogenesis in native Araceae for wicker production are the basis for ex situ conservation of local populations.

This paper proposes a floating-interest-rate infrastructure bond, where the interest of a government bond is paid to investors during the period of construction and the early period of operation. Unlike the usual government bond, which provides a fixed interest rate, the proposed floating-interest-rate infrastructure bond pays a floating interest, the rate of which depends on spillover tax revenues. Effective infrastructure projects have a positive effect on the economic growth of a region, known as the spillover effect. When user charges and the return from spillover tax revenues are below the fixed rate of the government bond, the interest rate will equal to the fixed rate of the government bond. In this case, investors in the infrastructure will receive interest on the government bond at the minimum rate. As the spillover effect of the infrastructure increases, the rate of return for infrastructure investment will become greater than the fixed rate of the government bond. The success of the floating-interest-rate infrastructure bond depends on the spillover effect and on transparency and accountability. Policy recommendations are provided in this paper on how to increase the spillover effect and improve transparency and accountability.