China the world's biggest debt collector
Economy
Between 2000 and 2021, China lent $1.34 trillion to developing countries. It is reported that the bulk of this money was channelled into work related to the One Belt, One Road project.
China has provided more than $1 trillion in loans under the One Belt, One Road initiative, making it the world's largest debt collector. About 80 per cent of the loans were provided to support countries in financial difficulty. This is according to a report published by AidData researchers.
"Beijing is navigating an unfamiliar and uncomfortable role — as the world's largest official debt collector," the AidData report said.
It is noted that the total amount of outstanding debt of borrowers from developing countries to China, including principal but excluding interest, is at least $1.1 trillion.
According to the Chinese side, more than 150 countries have joined the "One Belt, One Road" initiative launched by President Xi Jinping in 2013.
Based on data collected on China's financing of nearly 21,000 projects in 165 countries, AidData reported that Beijing currently provides "around $80 billion a year" in aid and loans to low- and middle-income countries.
"Beijing is navigating an unfamiliar and uncomfortable role — as the world's largest official debt collector," the AidData report said.
It is noted that the total amount of outstanding debt of borrowers from developing countries to China, including principal but excluding interest, is at least $1.1 trillion.
According to the Chinese side, more than 150 countries have joined the "One Belt, One Road" initiative launched by President Xi Jinping in 2013.
Based on data collected on China's financing of nearly 21,000 projects in 165 countries, AidData reported that Beijing currently provides "around $80 billion a year" in aid and loans to low- and middle-income countries.
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