China’s Overseas Energy Lending Tumbles To Lowest Since 2008
- Virus disruption has hampered deal-making, study shows
- China’s financing ‘more attuned’ to debt sustainability
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China’s overseas energy financing dropped to the lowest level since 2008 after the pandemic hampered deal-making in developing nations.
Financing for foreign energy projects, including power plants and mines, fell by 43% to $4.6 billion, according to Boston University’s Global Energy Finance Database, which tracks data from two state-owned development banks. More than half of lending was for a natural gas pipeline project in Nigeria, the study showed.