South Asia and Beyond

Poor Nations Owe China $385 Bn For Infra Projects

Poor countries owe China a staggering $385 billion for various infrastructure projects and more than a third of such projects have been hit by corruption scandals. A study by the Virginia, USA headquartered development research lab AidData, says China has invested in 163 countries, and where governments said they would be unable to take on any more debt, China lent to private players backed by government guarantees. The study says even governments don’t know how much they owe China given the murky nature of the contracts signed.