China revamps lending initiative to developing countries as it reins in risk ...Middle East

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China is revamping the Belt and Road Initiative that pumped billions of dollars in grants and loans into developing countries over the last 10 years, as it attempts to rein in the risks that plagued its earlier investments, according to a new report released on Monday. The Asian nation has shifted its attention to reducing the risk of not being repaid, its exposure to environmental, social or governance (ESG) factors and potential damage to its reputation in the developing world, the report from AidData, a research lab at William & Mary, found. “Beijing has launched a far-reaching effort to de-risk the (Belt and Road Initiative) by refocusing its time, money, and attention on distre

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