China suggests shift in BRI approach amid debt concerns-24-05-2020

Details:

China has hinted at a shift in how it will pursue its signature Belt and Road Initiative (BRI) amid growing concerns about debt repayments from many partner countries because of the coronavirus (COVID-19) pandemic.

Financial assistance:

Song noted that China’s financial assistance included grants, interest-free loans and preferential loans. He suggested repayments could be solved “by multiple financial or other approaches, such as China adding grants to help bring projects back to life, conducting debt-to-equity swaps, or hiring Chinese firms to assist operation”.

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