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International relations

China biggest borrower, lender among middle-income nations

World Bank report shines spotlight on Chinese lending

China is the largest lender to low- and middle-income countries, with much of the funding used for large infrastructure development projects, often in African nations like Angola. 

TOKYO -- China is the largest borrower among all the world's low- and medium-income countries while also being one of the biggest lenders to those places, the World Bank said in a recent report, underscoring the nation's key position in the global economy.

Almost 60%, or about $4 trillion, of financial flows to low- and middle-income countries from external creditors and investors went to China over the last decade, according to the November report. In 2020, loans and investments that made their way into China jumped 32% from a year earlier to $466 billion, even as such flows to low- and medium-income countries generally slowed. The balance of China's debts increased 11% to $2.3 trillion.

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