Secret contracts show how China structures loans to become Africa’s “preferred” lender ...Middle East

Quartz - Economy

A new report led by AidData, a US-based development finance research lab, reveals the ways in which Chinese lenders use contracts to gain an advantage over other creditors in developing countries, limiting the borrowers’ options for crisis management, and complicating debt renegotiation.Researchers examined 100 contracts issued from 2000 and 2020 between Chinese lenders and 24 developing countries, including 11 from Africa, worth $36.6 billion. Lenders included the China Development Bank, the Export-Import Bank of China and state-owned commercial banks. They found that the contracts frequently contained provisions that position Chinese state-owned banks as “preferred creditors,” whose loans

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Secret contracts show how China structures loans to become Africa’s “preferred” lender ...Middle East

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