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Cheap funds, heavy debt, growing risk behind China's Silk Road vision

Two policy leaders, CDB and EXIM have provided $200 billion in loans in Asia, Middle East and Africa

Reuters  |  Beijing 

Behind China's trillion-dollar effort to build a modern Silk Road is a lending programme of unprecedented breadth, one that will help build ports, roads and rail links, but could also leave some banks and many countries with quite a hangover. At the heart of that splurge are China's two policy lenders, China Development Bank (CDB) and Export-Import Bank of China (EXIM), which have between them already provided $200 billion in loans throughout Asia, the Middle East and even Africa. They are due to extend at least $55 billion more, according to announcements made during a ...

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First Published: Mon, May 15 2017. 14:45 IST