Delirium
19th January 2011, 18:46
http://www.bbc.co.uk/news/world-asia-pacific-12212936
Two Chinese state controlled banks have lent more to developing countries than the World Bank, according to a report.
The China Development Bank and the China Export Import Bank offered loans of at least $110 bn (£69.2 bn) to governments and firms in developing countries in 2009 and 2010.
The research was undertaken by the Financial Times newspaper.
Between mid-2008 and mid-2010, the World Bank's lending arm issued loans of just over $100bn (£63bn).
The two Chinese banks do not publish a detailed breakdown of their overseas loans, so this research is based on public announcements about specific deals from them, their borrowers or the Chinese government.
That means the figure arrived at for the amount of Chinese lending is more likely an underestimate than an overestimate because some - more sensitive - loans will not have been made public.
The Chinese lenders are so-called policy banks - they have a mandate to further whatever Beijing sees as its national interest.
Two Chinese state controlled banks have lent more to developing countries than the World Bank, according to a report.
The China Development Bank and the China Export Import Bank offered loans of at least $110 bn (£69.2 bn) to governments and firms in developing countries in 2009 and 2010.
The research was undertaken by the Financial Times newspaper.
Between mid-2008 and mid-2010, the World Bank's lending arm issued loans of just over $100bn (£63bn).
The two Chinese banks do not publish a detailed breakdown of their overseas loans, so this research is based on public announcements about specific deals from them, their borrowers or the Chinese government.
That means the figure arrived at for the amount of Chinese lending is more likely an underestimate than an overestimate because some - more sensitive - loans will not have been made public.
The Chinese lenders are so-called policy banks - they have a mandate to further whatever Beijing sees as its national interest.