China's Belt and Road Bailout: Billions Spent on Loan Relief.
TL;DR Summary
China has spent $240 billion bailing out 22 countries, mostly Belt and Road project debtors, between 2008 and 2021, according to a study by researchers from the World Bank, Harvard Kennedy School, Kiel Institute for the World Economy and the US-based research lab AidData. Most of the loans were made in the last five years of the study, from 2016 to 2021. The PBOC requires an interest rate of 5%, compared to 2% for IMF rescue loans, and most of the loans are extended to middle-income countries considered more important to China’s banking sector.
- China gave huge loans to Belt and Road countries. Now it's spending billions to bail them out CNN
- After Doling Out Huge Loans, China Is Now Bailing Out Countries The New York Times
- China spent $240bn on other countries’ Belt and Road debts between 2008 and 2021 The Guardian
- That big Chinese bailout loan paper in full Financial Times
- China has lent hundreds of billions of dollars to build infra | Latest News | English News | WION WION
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