China Revamps Overseas Lending as US Narrows Spending Gap
- US, G7 are catching up on funding to developing world: report
- Beijing starts outsourcing risks to international institutions
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China is overhauling the way it lends to developing nations, a strategy that may help their largest official creditor maintain a narrowing lead over the US and its Group of Seven allies.
Beijing has begun moving away from the big bilateral deals it was eager to strike a decade ago — when it first launched its flagship Belt and Road Initiative that mainly lends to infrastructure projects — in favor of collaborative lending that reduces its exposure to financial risk, according to a new report published by AidData at William and Mary, a public university in Virginia.