China ramping up bailout loans to 'Belt and Road' countries: report

Almost all the funds went to Belt and Road Initiative countries such as Sri Lanka, mostly low- and middle-income nations. - AFP

BEIJING (AFP): China has handed out US$240 billion worth of bailout loans to 22 developing countries at risk of default over the past two decades, with the trend accelerating in recent years, a report said on Tuesday (March 28).

Almost all the funds went to Belt and Road Initiative (BRI) countries such as Sri Lanka, Pakistan and Turkey -- mostly low- and middle-income nations that have received Chinese loans for infrastructure development, according to the study.