Follow CGSP on Social Media

Listen to the CGSP Podcast

New Report: China Is Now the Major Lender of Last Resort for Developing Countries

Countries marked in red have received rescue lending from China, either by making drawdowns on their RMB swap lines and/or by receiving balance of payments support from Chinese state-owned banks and enterprises. Swap drawings by non-distressed countries are excluded. Source: AidData.

China has spent $240 billion in rescue payments to 22 economically distressed Belt and Road economies between 2008 and 2021.

A new report published by AidData, the research center at the College of William and Mary, and co-authored with researchers at the World Bank, Harvard Kennedy School and the Kiel Institute for the World Economy, traced two forms of lending: currency swap lines and direct bridging loans.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.