Xi's statements on the Belt and Road Initiative

$40b pledge on Silk Road fund

President Xi Jinping with the leaders of neighboring countries ahead of a meeting on strengthening connectivity partnerships in Beijing, Nov 8, 2014. [Photo/Xinhua]

In November 2014, Xi announced that China would contribute $40 billion to set up a Silk Road fund that would boost infrastructure and resource development while improving industrial and financial cooperation along the centuries-old Silk Road trading routes.