BEIJING : The Asian Development Bank, the World Bank and Japan all spend more than China on development financing in Southeast Asia, a report from the Lowy Institute think tank showed, after COVID-19 disrupted Beijing's spending.Until 2019, China had led development finance in Southeast Asia, the country'
BEIJING : The Asian Development Bank, the World Bank and Japan all spend more than China on development financing in Southeast Asia, a report from the Lowy Institute think tank showed, after COVID-19 disrupted Beijing's spending.
In 2021, the world's second largest economy provided just 14 per cent of the region's official development finance in 2021, down from 24 per cent in 2015, the think tank said. Meanwhile, the slowing of its economy during the pandemic meant China's two main policy banks slowed new loan issuance overseas.
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