China doubles loans to 68 nations, further tightening grip

Tally over past four years puts it on par with World Bank as lender

20200806N Sri Lanka Port City

China is giving out loans to help developing nations build roads and other infrastructure, like this port city in Sri Lanka.(Getty Images)

Nikkei staff writers

TOKYO -- Chinese loans to 68 heavily indebted developing countries doubled in the four years through the end of 2018, virtually matching the amount of World Bank lending to the same nations and giving Beijing greater global sway.

The lending also puts the developing countries at greater risk of falling into what is seen as a debt trap that would bind them to China's foreign policy goals, diplomatic initiatives and infrastructure drives.

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