China touts its Belt and Road infrastructure lending as an alternative for international development

Published October 10, 2023 3:21 AM

By KEN MORITSUGU
Associated Press

BEIJING (AP) — China is touting its 10-year-old Belt and Road Initiative as an alternative model for economic growth as it seeks to win friends and strengthen its leadership of the developing world. A government report released Tuesday praises the program, which has provided financing to build ports, power plants and other projects around the world. The report glosses over criticism that the initiative has saddled poor countries with too much debt and also increased global emissions of climate changing greenhouse gases. Since it was launched, the Belt and Road Initiative, or BRI, has backed projects carried out mostly by Chinese construction companies, financed by loans from Chinese development banks.

Article Topic Follows: AP National

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