China Takes the Lead in Development Finance
China has provided many developing countries the additional resources they had long sought from the West. If Chinese lenders align this funding with efforts to ensure financial and environmental sustainability, the world would stand a much better chance of achieving a green and inclusive recovery from the COVID-19 crisis.
https://prosyn.org/9xbANAR
BOSTON – According to new estimates, China now finances overseas development at nearly the same level as the World Bank. With countries currently struggling to combat COVID-19, protect the vulnerable, and mount a green and inclusive recovery, this significant increase in global development funding could potentially bring major benefits to the world economy.