DP World CEO questions silk road financing

DP World’s CEO Ahmed Bin Sulayem told Bloomberg he was struck by the US$8tn gap in funding for China’s new silk road project.

Speaking in Hong Kong, he said: “What struck me is the gap of US$8tn which is needed to finish this. It’s a big amount and really the whole discussion is how to fund it. Definitely, there are many, many avenues. Governments have to be on board and we need to develop Asian bond markets….I believe private-public partnerships are key.”

Sulayem added that to make the overland route between China and Europe economically viable, logistics will have to be relocated and manufacturing bases will have to move away from China’s coast and towards Europe.