Resolution title: Silk Road initiative

Main submitter: China

Co-submitter:India, Saudi Arabia, Russia, Iran, Vietnam, Bangladesh,
Qatar, Pakistan, Uzbekistan, Kazakhstan, Sri Lanka, South Africa.

Committee: United Nations General Assembly

Recalling the principles and goals outlined in the United Nations charter,
particularly those related to promoting international and economic cooperation
and countries financial stability.

Acknowledging the increasing vulnerabilities in the world’s current trading

lines.

Taking into consideration the diverse economic and financial contexts of

member states and the potential good and bad impacts of depending on the Silk
Road.

Operative Clauses:

1. Recognises the concerns raised regarding debt sustainability within the Silk
Road Initiative; emphasises the necessity for transparent financial practices and
responsible lending to ensure the long-term financial stability of participating
nations; Calls for the establishment of a Debt Sustainability Task Force,
composed of financial experts and representatives from participating nations, to
review and assess the terms of financial agreements within the Silk Road
Initiative, ensuring they are in line with sustainable lending practices, fostering
transparency, and addressing potential debt-related challenges;

i. Encouraging the greatest lenders in the Silk Road countries doing

a debt relief for the countries in debt with them, as they contribute
and participate in the Silk road building and upgrading

ii. Almost 57 countries in the world is in debt with countries are

like china, a debt relief with different percentages will be taken into
account as the lending countries contribute more and more to the
building and upgrading of the silk road
 iii. The project starts in china. As the project starts, the countries on
the way of the Silk Road will have to contribute so they can
continue the freight of the raw materials and products in a modern
road for the safety of workers and products.

2. Further invites the creation of mechanisms that allow countries to renegotiate

terms of their debt in case of unforeseen economic challenges.

i. Considers that a country faces economical challenges

ii. Believing the countries have the right to change some debt
terms agreed on earlier, such as deadlines, interest rates, and other
things that can make it easy on them.

iii. Things such as the BRI monitor, the BRI monitor the project by
5 think tanks in southeast Asia and the pacific. This monitor seeks
to address this gap in research.

The projects assess the transparency of BRI project across 38

indicators (such as project name, cost, and status while limiting
public financial exposure to unsustainable investment. And it can
be a critical tool for raising awareness.

3. Calls for the establishment of transparent and fair loan agreements in

international infrastructure projects, such as those under the BRI and B3W;

i. Demands clarity in loan agreements ensuring that all terms, including

interest rates, repayment schedules, and associated conditions, are
explicitly stated and understood by all involved parties;

ii. Emphasises the need for equitable loan conditions to prevent any
undue financial burden on developing nations and ensure the
sustainability of projects;

iii. Encourages the involvement of international financial institutions such

as the World Bank and the International Monetary Fund, in advising and
overseeing these agreements to promote fairness and transparency;

iiii. Advocates for regular reviews and audits of loan agreements to

ensure they remain fair and viable in changing economic climates and
circumstances
 Iv. Exponential inclusivity: BRI is an open invitation to jump the
bandwagon and obtain funding for development without scrutiny and
complications.

V. Committee forming: a committee is formed with representatives from

each country so Laws and Restrictions are Made after a democratic
voting system process goes on, where the country’s vote counts as one
Vote.

4. Emphasises the importance of preserving worker rights on the BRI routes.

i. invites internationally recognized worker rights organisations like the

IMO and ILO to perform regular fully transparent audits.