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Database reveals secrets of China’s loans to developing nations: report

The terms of China’s loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment of Chinese state-owned banks ahead of other creditors, a study of a cache of such contracts showed on Wednesday. The dataset – compiled over three years by AidData, a US research lab at the College of William & Mary – comprises 100 Chinese loan contracts with 24 low- and middle-income countries, a number of which are struggling under mounting debt burdens amid the economic fallout from the Covid-10 . Much focus has turned to the role of China, which is the world’s biggest creditor, accounting for 65% of official bilateral debt worth hundreds of billions of dollars across Africa, Eastern Europe, Latin America and Asia.........Read more