December 12, 2020
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China’s policy lending in Eurasian Belt and Road economies is facing a raft of debt relief requests and a slowdown in bilateral government-to-government loans. However data analytics that focus solely on policy bank lending through bilateral agreements miss the wider geoeconomic picture. China’s policy banking environment in Central Asia is shifting, but the loan books of the future will be more heavily weighted to Chinese enterprises operating in host economies and host economy state-owned enterprises (SOEs).
The financial model underpinning Belt and Road investment is a combination of public finance vehicles, all essentially drawing on China’s sovereign wealth currency reserves. The most common pattern is “three banks, one insurer” comprising the joint operations of the Export-Import Bank of China, China Development Bank, Industrial & Commercial Bank of China, and Sinosure. Other commercial banks are also incentivized to participate in t
Activists are fighting for a renewable future in Sub-Saharan Africa Chinese coal projects threaten to dirty those plans
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China s Foreign Coal Push Risks Global Climate Goals
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10th Dec 20, 9:19am
By Kevin Gallagher and Rebecca Ray
According to new estimates, China now finances overseas development at nearly the same level as the World Bank. With countries currently struggling to combat COVID-19, protect the vulnerable, and mount a green and inclusive recovery, this significant increase in global development funding could potentially bring major benefits to the world economy.
But, like any huge influx of capital into the developing world, China’s financial assistance also poses large risks – especially regarding debt distress, biodiversity loss, and climate change.
A new
interactive dataset from Boston University’s Global Development Policy Center tracks the overseas sovereign loan commitments of China’s two global policy banks – China Development Bank and the Export-Import Bank of China. Between 2008 and 2019, China’s global development finance totaled $462 billion, just $5 billion short of the World Bank’s sovereign commitments in
Chinese coal projects threaten to wreck plans for a renewable future in Sub-Saharan Africa CNN 12/10/2020 By Eoin McSweeney, CNN Business © Lintao Zhang/Pool/AFP/Getty Images Chinese President Xi Jinping (right) shakes hands with his Zimbabwean counterpart President, Emmerson Mnangagwa on September 5, 2018, a day after the conclusion of the Forum On China-Africa Cooperation.
When the Ghanaian government agreed to coordinate with Shenzen Energy Group, a Chinese energy company, to build a 7,000-megawatt coal power plant in the country s Ekumfi district, Chibeze Ezekiel was concerned.
He knew the proposed plant s wastewater, ash pit and mercury emissions posed serious health and environmental risks to the local fishing and farming communities. Access to clean drinking water was under threat from the plant s sulfur dioxide emissions and associated acid rain, and there would have been a clear impact on the regional climate.