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Iraq was the top target for China’s Belt & Road infrastructure initiative in 2021, receiving $10.5 billion in financing for projects including a heavy oil power plant, a study published on Wednesday said. In total, China’s engagement through investments and contractual cooperation across the 144 Belt & Road Initiative (BRI) countries was $59.5 billion, in .
(Reuters) - Iraq was the top target for China s Belt & Road infrastructure initiative in 2021, receiving $10.5 billion in financing for projects including a heavy oil power plant, a study published on Wednesday said. In total, China s engagement through investments and contractual cooperation across the 144 Belt & Road Initiative (BRI) countries was $59.5 billion, in line with the $60.5 billion in 2020, according to the report by the Green Finance & Development Center at Shanghai s Fudan University. However, in Arab and Middle Eastern countries, investment last year rose by about 360% and construction engagement by 116% compared to 2020, the study said. Iraq, where the United States ended its combat mission last year, has become the third-biggest partner in BRI for energy engagement since 2013, after Pakistan and Russia, the study said. China and Iraq are cooperating to build the $5 billion Al-Khairat heavy oil power plant in Karbala Province in Iraq and China Sinopec has won the cont
Iraq was the top target for China s Belt & Road infrastructure initiative in 2021, receiving $10.5 billion in financing for projects including a heavy oil power plant, a study published today said.