China ramping up bailout loans to ‘Belt and Road’ countries: report
China has provided $240 billion in bailout loans to 22 developing countries in danger of default, mainly in Belt and Road Initiative (BRI) countries like Sri Lanka, Pakistan, and Turkey, according to a report by AidData, the World Bank, Harvard Kennedy School, and the Kiel Institute for the World Economy.
The report noted that China’s bailout loans have accelerated between 2016 and 2021, with Beijing distributing 80% of its rescue lending during that period. Critics have accused China of luring developing countries into debt traps by providing massive, unaffordable loans.
