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Euromoney Belt and Road Results Index: Q2 2020

The Euromoney Belt and Road Index (EBRI) combines International Monetary Fund (IMF) GDP figures with investment climate (IC) scores sourced from economists and political experts who ranked countries on the Euromoney Country Risk platform. The index therefore combines qualitative, crowd-sourced opinion with quantitative data. Using these sources EBRI aims to provide a clear and credible index representing the politico-economic environment and investment climate.


Q2 2020 Results Summary

The latest results of the EBRI show values improving in Q2 2020, after falling in the previous quarter due to the Covid-19 pandemic.

Of the 68 countries included in the EBRI, 40 have higher values since the previous quarter. 

However, the number of countries with values larger than 100 is unchanged, at 49. They are in the top three (of five) categories, or tiers, showing rising GDP and/or improving investor climates since China’s Belt & Road Initiative was inaugurated in 2013. 

While Saudi Arabia moved above 100 in Q2, its improvement was offset by Indonesia moving below that level for the first time. 

Asia remains the only world region showing improvement overall, with a value comfortably exceeding 100, although Africa (rising to 98.6 in Q2) and the Middle East (on 95.5) have moved closer, leaving Central and Eastern Europe lagging (on 46.8).

Of the seven countries in the top tier, six are in Asia, with Bangladesh rejoining the leaders in Q2 and Cambodia entering for the first time. The other countries in tier one are Bhutan, Laos, the Maldives, Nepal and Ethiopia.

A total of 25 countries have lower EBRI values since Q1 2020. Among them are many higher-risk borrowers with sub-investment grade ratings, including Afghanistan, Iran, Lebanon and Yemen, as well as more moderate risks with greatly diminished GDP trends, worsened by the current global crisis. 

For more detailed results and the methodology used, click below:

Quarterly Result: Q2 2020

EBRI Article: Q2 2020

Historical Data: Q2 2015- Q2 2020


About EBRI

The Belt and Road Initiative (BRI) – also known as One Belt and One Road – is a development strategy adopted by the Chinese government in 2013. BRI is an infrastructure and trade project intended to connect China – financially and structurally – to various economic entities across Asia, Europe, Africa and Oceania.

In response to the growing demand for information on the impact of this initiative, we have launched the Euromoney Belt and Road Index (EBRI). This index provides investors and other market participants with valuable data to evaluate investment opportunities and to track changes in investment climate and GDP in the Belt and Road region. EBRI publishes new results each quarter, providing data on 68 countries from Q4 2013 to present. 

Contact us

For commercial enquiries please contact Amy Tang

Email:; Tel: +86 13795313118

For research and data enquiries please contact Chen-Ta Sung

Email:; Tel: +44 (0) 2077798752

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