{"id":571179,"date":"2020-05-03T03:33:41","date_gmt":"2020-05-03T03:33:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/"},"modified":"2020-05-03T03:33:41","modified_gmt":"2020-05-03T03:33:41","slug":"chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/","title":{"rendered":"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze"},"content":{"rendered":"

China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze:<\/strong> Several countries are seeking debt relief from China on loans handed out by its banks under the Belt and Road Initiative (BRI) as the covid-19 pandemic is straining their economies, the Financial Times reports<\/a>. Chinese lenders, including Exim Bank and China Development Bank, are considering suspending interest payments on the loans, while one policy adviser says certain borrowers could be allowed to reschedule their debts. Writing them off entirely, however, appears to be out of the question.<\/p>\n

The debt relief requests appear to be concentrated in Africa, where lenders have doled out USD 461 bn in loans<\/strong> for BRI projects since 2013, according to figures from RWR Advisory. So far, Egypt is not among the countries that have requested debt relief from China. Cairo has borrowed some USD 15 bn from Chinese lenders through the initiative, including USD 3 bn for the new administrative capital\u2019s central business district<\/a> from a group of lenders led by state-owned Industrial and Commercial Bank of China. China has come under fire<\/a> multiple times before for the initiative, which some countries have criticized as the \u201cnew version of colonialism\u201d that has lured countries into debt traps. Loans to lower-income nations caused the IMF to rate in 2017 public debt as \u201cunsustainable\u201d or \u201cat high risk of unsustainability\u201d in 32 countries, compared to only 15 in 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"

China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze: Several countries are seeking debt relief from China on loans handed out by its banks under the Belt and Road Initiative (BRI) as the covid-19 pandemic is straining their economies, the Financial Times reports. Chinese lenders, including Exim Bank and China Development Bank, […]<\/p>\n","protected":false},"author":1,"featured_media":571180,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[7098,2169,116,7106,72,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-africa","tag-belt-and-road-initiative","tag-china","tag-debt","tag-enterpriseam","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"a60b8d8b-5594-41f3-a187-f80f1e501da2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/5\/5.jpg","photo_position":"above","related_issue":[571156],"teaser":"","voice_url":""},"yoast_head":"\nChina\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze\" \/>\n<meta property=\"og:description\" content=\"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze: Several countries are seeking debt relief from China on loans handed out by its banks under the Belt and Road Initiative (BRI) as the covid-19 pandemic is straining their economies, the Financial Times reports. Chinese lenders, including Exim Bank and China Development Bank, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-03T03:33:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/5.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze\",\"datePublished\":\"2020-05-03T03:33:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/\"},\"wordCount\":240,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/5.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Africa\",\"Belt and Road Initiative\",\"China\",\"debt\",\"EnterpriseAM\",\"THE MACRO PICTURE\"],\"articleSection\":[\"THE MACRO PICTURE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/chinas-belt-and-road-loans-are-coming-under-pressure-amid-pandemic-squeeze\/\",\"name\":\"China\u2019s Belt and Road loans are coming under pressure amid pandemic squeeze - 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China is reassessing its Belt and Road Initiative (BRI) as mismanagement, accusations of corruption, and poor quality projects implemented under the initiative wreak political havoc across Asia, according to Bloomberg. 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An undersea fiber optic data cable known as EllaLink, linking Europe to Latin America, came online in May. Backed by the European Investment Bank and major public lenders, the EUR 150 mn project is seen to\u2026","rel":"","context":"In "GLOBAL TRADE"","block_context":{"text":"GLOBAL TRADE","link":"https:\/\/enterpriseam.com\/egypt\/category\/global-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/431.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609197,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/01\/cbe-gets-c-usd-1-bn-from-chinese-development-bank\/","url_meta":{"origin":571179,"position":4},"title":"CBE gets c. 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