China Belt and Road Banks Halted Overseas Energy Loans Last Year
Chinese built rail tracks near Duka Moja, Kenya, in 2019.
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The policy banks that power China’s Belt and Road program for overseas investment didn’t make a single energy loan last year for the first time since before 2000.
The China Development Bank and the Export-Import Bank of China, the country’s two main banks that conduct overseas development financing, reported zero new lending for foreign energy projects as the country works to reduce investment risk and avoid debt crises of borrowers, researchers from Boston University’s Global Development Policy Center said in a report.