The Chinese regime’s “Belt and Road” Initiative is expected to meet some competition as the UK revamps a development finance institution to boost investment in the Caribbean, Asia, and Africa. British Foreign, Commonwealth, and Development Secretary Liz Truss said “reliable and honest sources of finance” from “freedom-loving democracies” are needed as “too many countries are loading their balance sheets with unsustainable debt.” Truss on Thursday launched the British International Investment (BII), which “will invest billions in infrastructure and technology in low and middle-income countries across Asia, Africa, and the Caribbean,”  the Foreign Office said in a statement. It added that the body, previously known as the Commonwealth Development Corporation Group (CDC), will be a key part of the government’s plans to mobilise up to £8 billion ($10.67 billion) a year of public and private sector investment in international projects by 2025. “This will include BII partnering with capital markets and sovereign wealth funds …