China continues to cut back Latin America loans

Robert Soutar, Modern Diplomacy

Photo by Liam Read on Unsplash

For the fourth consecutive year, China’s two main banks tasked with financing overseas development have reduced loans to Latin America, according to new research from Boston University and think tank the Inter-American Dialogue. Instead of lending directly to Latin American governments, Chinese banks are investing in energy and infrastructure projects through funds or financing Chinese state-owned companies bidding for projects, the report said.

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