China leads aid donors in South-East Asia amid rising competition; Indonesia among those to benefit from help

JAKARTA/SINGAPORE, June 4 (Bloomberg): China is South-East Asia’s leading development financier, but is facing rising competition for regional sway, according to Lowy Institute research.

The region received about US$28 billion a year in official development finance between 2015 and 2021, with around US$5.5 billion coming annually from China, the world’s second-biggest economy, according to the South-East Asia Aid Map released by the Australian think tank on Sunday. Still, Beijing’s financial assistance has been shrinking in recent years as key regional players like Japan and South Korea step up funding.