India and Russia tipped to be the big winners from China’s massive ‘Belt and Road' investment

Less-developed countries along the new Silk Road stand be among the big winners of investment as China revives ancient land and maritime trade routes, according to estimates by a top bank.

Credit Suisse forecasts that China’s massive inflow of investment over the next five years as part of Beijing’s “Belt and Road Initiative” could amount to as much as US$502 billion, or equivalent to 4 per cent of the total gross domestic product of the 62 countries along the routes in 2015.

The biggest recipients of the investment dollars were expected to be India, Russia, Indonesia, Iran and Egypt, the bank said in a report released earlier this month.

The initiative, unveiled in ­September 2013 by President Xi Jinping, aims to connect China by a network of overland corridors and sea routes to the rest of Asia, Africa and beyond, linking the dozens of countries through infrastructure and financial and trade ties.

The economies along the routes account for about 63 per cent of the world’s population and 29 per cent of global GDP.

Credit Suisse estimates that China’s overseas investment in the initiative over the next five years will range between US$313 billion to US$502 billion, depending on how much investment the countries need and how much China is willing to put in.