According to chief economist of the Eurasian Development Bank Yaroslav Lissovolik, the implementation of the project will help to reduce the dependence on the US dollar and increase the role of the national currencies in Eurasian countries.
"The implementation of such a megaproject could be used to increase the role of national currencies, contribute to the de-dollarization of the countries in Eurasia and reduce their dependence on the US dollar. In addition, it could help increase the role of other currencies, especially those of emerging markets," the expert said during a conference, organized by Rossiya Segodnya International Information Agency.
According to Lissovolik, the initiative could help create "new reserve currencies and strengthen the yuan as a reserve currency in international financial relations."
"This issue is very important, because it gives a chance to partially affect the financial architecture of Eurasia," he said.
The project was proposed in 2013 by Chinese President Xi Jinping to economically connect China with the rest of Eurasia. As its conception goes, the New Silk Road will connect the Chinese market with Europe, the Middle East and Africa.
