China, IMF launch new centre to support B&R

Beijing    :  China and the International Monetary Fund (IMF) established a new centre on Thursday to support the former's grand multi-billion Belt and Road Initiative.

The China-IMF Capacity Development Centre aims to provide personnel training, support institution building and boost communication for countries along the Belt and Road, according to a statement issued by the People's Bank of China (PBOC), Xinhua news agency reported.

PBOC governor Yi Gang said China will enhance cooperation in financing sector to foster a more open world economy. The centre will soon begin offering macro-financial training courses to officials from IMF member countries, IMF Managing Director Christine Lagarde said at the inauguration.

China aims to connect Asia, Africa and Europe under the Belt and Road project. However, many countries including India suspect that Beijing has geostrategic designs behind the project, which Beijing calls purely an economic one.