Plans are afoot for connectivity from the Mediterranean to India via the Gulf. The plans involve countries like Greece, Cyprus, Egypt, UAE, Saudi Arabia and India.

The foreign ministers of India, Israeli, Egyptian, Cyprus, Greece and others are expected to meet in Dubai at the 12th edition of the Sir Bani Yas Forum to further discuss the plan.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/infra-projects-buddha-link-rights-of-tamils-dominate-shringlas-sri-lanka-visit-418297">Infra projects, Buddha link, rights of Tamils dominate Shringla's Sri Lanka visit</a>

The forum will meet from 12th to 14th November.

WION has learnt that the project focuses on building a corridor that connects India to the Gulf and West Asia to the Eastern Mediterranean, which will link the region to Europe and be a game-changer.

The foreign ministers' face-to-face meeting is expected to eliminate the roadblocks in this&nbsp;connectivity project, which currently is in the preliminary stages.

It is important to understand that three key countries in West Asia; Saudi Arabia, Israel and UAE who will also be a part of the discussion of the project, already have a close relationship with New Delhi.&nbsp;

Also read |&nbsp;​​​​​​​<a href="https://www.wionews.com/india-news/uk-wants-trade-security-pact-with-india-says-foreign-secretary-liz-truss-417979">UK wants trade, security pact with India, says Foreign Secretary Liz Truss</a>

Several trilateral projects are also underway between India, Israel, and the United Arab Emirates.&nbsp;

The Abraham Accords of 2020, saw the normalisation of ties between Israel and UAE and since then both sides have increased engagements with each other including the presence of the Israel pavilion at the ongoing Dubai Expo.

India has been taking a lead in several connectivity initiatives, from the Chabahar port project in Iran that links it to Central Asia and beyond; to the Kaladan Multimodal project in the east that connects it to ASEAN countries.&nbsp;

Chabahar is also key to the International north-south transport corridor connecting Mumbai to Moscow.

Plans are afoot for connectivity from the Mediterranean to India via the Gulf. The plans involve countries like Greece, Cyprus, Egypt, UAE, Saudi Arabia and India.

Plans are afoot for connectivity from the Mediterranean to India via the Gulf. The plans involve countries like Greece, Cyprus, Egypt, UAE, Saudi Arabia and India. The foreign ministers of India, Israeli, Egyptian, Cyprus, Greece and others are expected to meet in Dubai at the 12th edition of the Sir Bani Yas Forum to further discuss the plan. Also read | Infra projects, Buddha link, rights of Tamils dominate Shringla's Sri Lanka visit The forum will meet from 12th to 14th November. WION has learnt that the project focuses on building a corridor that connects India to the Gulf and West Asia to the Eastern Mediterranean, which will link the region to Europe and be a game-changer. The foreign ministers' face-to-face meeting is expected to eliminate the roadblocks in this connectivity project, which currently is in the preliminary stages. It is important to understand that three key countries in West Asia; Saudi Arabia, Israel and UAE who will also be a part of the discussion of the project, already have a close relationship with New Delhi. Also read | UK wants trade, security pact with India, says Foreign Secretary Liz Truss Several trilateral projects are also underway between India, Israel, and the United Arab Emirates. The Abraham Accords of 2020, saw the normalisation of ties between Israel and UAE and since then both sides have increased engagements with each other including the presence of the Israel pavilion at the ongoing Dubai Expo. India has been taking a lead in several connectivity initiatives, from the Chabahar port project in Iran that links it to Central Asia and beyond; to the Kaladan Multimodal project in the east that connects it to ASEAN countries. Chabahar is also key to the International north-south transport corridor connecting Mumbai to Moscow.

Plans afoot for connectivity from Mediterranean to India via Gulf

In an apparent dig at China's Belt and Road Initiative (BRI), the US today voiced its concern over the financing structure of connectivity projects, cautioning nations may compromise their sovereignty if they could not sustainably pay back their loans.

"We're concerned, with the financing structures for connectivity projects," Alex Wong, Deputy Assistant Secretary of State for East Asian and Pacific Affairs told reporters during a news conference here when asked how the Trump administration is going to really propose the alternative for the infrastructure support as against those by China.

"Because if they're not structured in a way in which the nations of the region can sustainably pay them back, over time, you will see that tends to compromise their sovereignty," Wong said.

"We're concerned with how projects are conceived of and implemented because we want these projects to be economically feasible. We want them to be connected with the economies of these nations in a smart way that increases their GDP, truly drives regional integration, and doesn't weigh them down," he said.

The American interest, he said, is in infrastructure and connectivity throughout the Indo-Pacific.

"We're less concerned with where the financing or from which country financing for infrastructure across the region comes from. We are more concerned with how that financing for infrastructure is structured, and how the particular infrastructure projects are conceived of and implemented," he said.

For decades, the US has been advocating for strong connectivity principles, facilitating good connectivity projects, preparing the investment frameworks and the investment environments in the region to drive private capital to these types of projects, he said.

"In the Indo-Pacific, the Asian Development Bank says that there's about a $1.7 trillion per year investment gap for infrastructure, what they truly need to encourage the type of GDP growth been seen for a number of years in the Indo-Pacific. But that gap won't be filled by only state-backed financing, he said.

"It can only be filled by getting private sector money off the sidelines," Wong said. Currently, there is $50 trillion in private sector capital and cash instruments that are uninvested around the world.

"If we can get that into the Indo-Pacific to invest in quality best-value infrastructure, that'll be to the benefit of many of the countries in the region, to our benefit, as the GDP of the region grows and our trade and our investment grow," he said.

But there is a problem right now in the Indo-Pacific, Wong said. In the developed world, for every one dollar in state financing that goes to infrastructure, one gets two dollars in private capital. But in the Indo-Pacific, for every one dollar in state financing, one only gets 30 cents of private capital into these projects.

"There's a gap there, and we need to help the nations of the region ensure that they can access that private capital, craft the projects in a way that does attract investment money, ensure that their regulatory environments and their bidding processes are attractive to private capital.

"Then if we can do that, we can fill that infrastructure gap, provide the alternatives that are needed by the nations of the region, so that infrastructure is done right and truly ensures economic growth," Wong said.

In an apparent dig at China's Belt and Road Initiative (BRI), the US today voiced its concern over the financing structure of connectivity projects

In an apparent dig at China's Belt and Road Initiative (BRI), the US today voiced its concern over the financing structure of connectivity projects, cautioning nations may compromise their sovereignty if they could not sustainably pay back their loans. "We're concerned, with the financing structures for connectivity projects," Alex Wong, Deputy Assistant Secretary of State for East Asian and Pacific Affairs told reporters during a news conference here when asked how the Trump administration is going to really propose the alternative for the infrastructure support as against those by China. "Because if they're not structured in a way in which the nations of the region can sustainably pay them back, over time, you will see that tends to compromise their sovereignty," Wong said. "We're concerned with how projects are conceived of and implemented because we want these projects to be economically feasible. We want them to be connected with the economies of these nations in a smart way that increases their GDP, truly drives regional integration, and doesn't weigh them down," he said. The American interest, he said, is in infrastructure and connectivity throughout the Indo-Pacific. "We're less concerned with where the financing or from which country financing for infrastructure across the region comes from. We are more concerned with how that financing for infrastructure is structured, and how the particular infrastructure projects are conceived of and implemented," he said. For decades, the US has been advocating for strong connectivity principles, facilitating good connectivity projects, preparing the investment frameworks and the investment environments in the region to drive private capital to these types of projects, he said. "In the Indo-Pacific, the Asian Development Bank says that there's about a $1.7 trillion per year investment gap for infrastructure, what they truly need to encourage the type of GDP growth been seen for a number of years in the Indo-Pacific. But that gap won't be filled by only state-backed financing, he said. "It can only be filled by getting private sector money off the sidelines," Wong said. Currently, there is $50 trillion in private sector capital and cash instruments that are uninvested around the world. "If we can get that into the Indo-Pacific to invest in quality best-value infrastructure, that'll be to the benefit of many of the countries in the region, to our benefit, as the GDP of the region grows and our trade and our investment grow," he said. But there is a problem right now in the Indo-Pacific, Wong said. In the developed world, for every one dollar in state financing that goes to infrastructure, one gets two dollars in private capital. But in the Indo-Pacific, for every one dollar in state financing, one only gets 30 cents of private capital into these projects. "There's a gap there, and we need to help the nations of the region ensure that they can access that private capital, craft the projects in a way that does attract investment money, ensure that their regulatory environments and their bidding processes are attractive to private capital. "Then if we can do that, we can fill that infrastructure gap, provide the alternatives that are needed by the nations of the region, so that infrastructure is done right and truly ensures economic growth," Wong said.

Connectivity projects in Indo-Pacific could compromise nations' sovereignty: US

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