Hong Kong CNN —Developing countries owe Chinese lenders at least $1.1 trillion, according to a new data analysis published Monday, which says more than half of the thousands of loans China has doled out over two decades are due as many borrowers struggle financially.
Now, 55% of China’s official sector loans to developing countries have entered their repayment periods, according to the analysis of more than two decades of China’s overseas funding across 165 countries released by AidData.
Instead, China is providing substantial numbers of emergency rescue loans, according to AidData.
Overall funding commitments from China to the developing world declined at the start of the pandemic, according to AidData.
Half of China’s non-emergency lending portfolio to developing countries is now provided via syndicated loan arrangements, with more than 80% of these arrangements involving those Western or multilateral partners, they said.
Persons:
William & Mary, Xi Jinping, ”, Brad Parks, Hajarah Nalwadda, ’ AidData, ” Parks, “
Organizations:
Hong Kong CNN, William &, Initiative, AidData, CNN, “, Bank of International, Getty, World Bank
Locations:
China, Hong Kong, Virginia, Beijing, America, Southeast Asia, Switzerland, Kiryandongo, Uganda, Xinhua, United States, AidData, Zambia, Ghana