China spent $240 billion bailing out countries who have taken Belt and Road loan: Report

From 2008 to 2021, China spent around $240 billion bailing out 22 developing countries who have struggled to repay loans taken for the Belt and Road infrastructure projects, a study has revealed.

The report, published on Tuesday, was prepared by researchers from the World Bank, Harvard Kennedy School, AidData and the Kiel Institute for the World Economy.

The study notes that around 80 per cent of the bailout money was spent between 2016 to 2021, mainly in middle-income countries like Pakistan, Argentina, and Mongolia.

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