Construction work at the Tunnel Outlet Portal of the Kaliwa Dam Project in Teresa, Rizal on March 28, 2023. The Metropolitan Waterworks and Sewerage System eyes the completion of the project construction by the end of 2026 and for it to be operational by 2027.
The report, published on Monday by researchers at AidData, showed the world's biggest bilateral lender switching from infrastructure to rescue lending, with an estimated 80 percent of the loans supporting countries in financial distress. "Total outstanding debt — including principal but excluding interest — from borrowers in the developing world to China is at least $1.1 trillion," said the research institute that tracks development finance at Virginia's College of William and Mary.
Based on data collected on Chinese financing of almost 21,000 projects in some 165 countries, AidData said Beijing had now committed aid and credit "hovering around $80 billion a year" to low and middle-income nations.At the same time, there has been criticism from the West and in some recipient nations, like Sri Lanka and Zambia, that infrastructure projects China-funded burdened them with debt they were unable to repay.
Source: Loan Digest (loandigest.net)