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Nigeria Abandons Chinese Financing for Railroad Project

Nigeria Abandons Chinese Financing for Railroad Project
PIUS UTOMI EKPEI/AFP via Getty Images
The
Premium Times of Nigeria reported Friday that the Nigerian government has decided not to borrow any more money from China for railroad construction, apparently because the Nigerians are growing nervous about their $3.4 billion in debt to Chinese banks and were reluctant to add another $14.4 billion to complete several large railroad projects.
“We’ve moved away from China in some of our projects,” Nigerian Transportation Minister Rotimi Amaechi said last week, adding that the finance ministry is seeking alternative funding arrangements with Standard Chartered, a British-based multinational finance company that has been doing business in Nigeria for 22 years. ....

United Kingdom , Rotimi Amaechi , International Monetary Fund , World Bank , China Civil Engineering Construction Corporation , Premium Timesof Nigeria , Transportation Minister Rotimi Amaechi , Standard Chartered , Premium Times , Debt Trap Diplomacy , ஒன்றுபட்டது கிஂக்டம் , சர்வதேச பண நிதி , உலகம் வங்கி , சீனா சிவில் பொறியியல் கட்டுமானம் நிறுவனம் , தரநிலை பட்டய , ப்ரீமியம் முறை , கடன் பொறி இராஜதந்திரம் , இரயில் பாதைகள் ,

Is China's Belt and Road Initiative a Threat to the US? – The Diplomat

While there’s room for improvement, there is little evidence that the BRI is something to fear. ....

United States , South Korea , Sri Lanka , Sri Lankan , South Korean , Umesh Moramudali , Deborah Brautigam , European Union Chamber , Rand Corporation , World Bank , Us International Development Finance Corporation , European Union , Nissin Corp , Road Initiative , China Africa Research Initiative , Johns Hopkins University , Hambantota Port , Latin America , Southeast Asia , East Asia , Development Finance Corporation , Belt And Road Initiative Bri , China Belt And Road Initiative , Chinese Loans , Debt Trap Diplomacy , Us Belt And Road Response ,

China's continues to boost leverage over vulnerable countries as part of its debt-trap diplomacy-551188

China s continues to boost leverage over vulnerable countries as part of its debt-trap diplomacy
Sun Online Desk
5th May, 2021 10:05:48
China is boosting its leverage over financially vulnerable countries and ensnaring some in sovereignty-eroding debt traps by extending loans with strings attached.
The latest to fall prey to China s debt-trap diplomacy is Laos, which recently signed a 25-year concession agreement allowing a majority Chinese-owned company to control its national power grid, including electricity exports to neighbouring countries, writes author Brahma Chellaney for The Hill.
This shows that Beijing continues to weaponise debt as part of its strategy to expand its economic, political and military presence abroad, even as countries reel from the devastating impact of the COVID-19 pandemic. The lopsided nature of Chinese-dictated contracts curtail the options of borrowing nations and give China s state-owned banks a huge discretion over any borrower ....

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China's Improvised Mask Diplomacy in Chile - Carnegie Endowment for International Peace

Carnegie Endowment for International Peace
Francisco Urdinez
Source: Getty
Summary: During the pandemic, Chinese medical and equipment supplies to Chile have come mostly from a diverse cast of Chinese players with local experience in Chile. They adapted to Chileâs unique system of emergency and disaster management.
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Preface
China has become a global power, but there is too little debate about
how this has happened and what it means. Many argue that China exports its developmental model and imposes it on other countries. But Chinese players also extend their influence by working through local actors and institutions while adapting and assimilating local and traditional forms, norms, and practices. ....

Pais Vasco , United States , Hong Kong , Chang Yu , United Kingdom , New Zealand , Ministry Of Health , United Arab Emirates , New York , Chen Wei , San Antonio , Republic Of China , Taiwan General , World Bank , District Of Columbia , Joshua Wong , Gabriela Sandoval , Jaime Bellolio , Ivonne Toro Agurto , Carsten Schulz , Ricardo Lagos , Daniela Campello , Felipe Retamal , Owen Matthews , Francisco Artaza , Evan Feigenbaum ,

Padma Rail Link Project: Bangladesh Railways Ministry dismisses fund crunch allegations of Chinese firm

Padma Rail Link Project: Bangladesh Railways Ministry dismisses fund crunch allegations of Chinese firm
ANI |
Updated: Feb 26, 2021 12:32 IST
Dhaka [Bangladesh], February 26 (ANI): The Bangladesh Railways Ministry on Thursday dismissed allegations made by China Railway Group Ltd (CREC), the contractor for the Padma Bridge Rail Link Project (PBRLP), that a fund crisis had slowed down the implementation of the project, reported Dhaka Tribune.
We are the authority that will respond to any allegations brought by the contractor. However, CREC has yet to inform us of any delays in payments. If such an issue truly exists, they must inform us, not the media, said Railways Minister Md Nurul Islam Sujan. ....

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