The Belt and Road Initiative offers an alternative to the IMF and World Bank

The Belt and Road Initiative provides infrastructure development loans, which differ from the financial development loans offered by the IMF and World Bank. The IMF and World Bank enforce neoliberal policies and conditionalities in exchange for loans, while the Belt and Road Initiative offers more favorable terms without imposing such conditions. The IMF and World Bank's focus on exports often perpetuates current account deficits in many countries, leading to economic crises. Although the BRICS' alternative to the IMF is still in its early stages, countries are hopeful that it could provide more opportunities in the future.