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China Belt & Road spend in Russia, Sri Lanka falls to zero: Report

Financing and investments were at $28.4 billion in the first six months, compared with $29.4 billion in the same period a year earlier

Wickremesinghe and Jinping
premium

Sri Lanka’s then PM Ranil Wickremesinghe (left) with Chinese President Xi Jinping at the welcome ceremony for the Belt and Road Forum, in 2017, in Beijing (Photo: Reuters/file).

Agencies
China’s Belt and Road financing and investments fell in the first half, with no new spending in Russia, Sri Lanka and Egypt, according to a study by the Green Finance & Development Center.

Financing and investments were at $28.4 billion in the first six months, compared with $29.4 billion in the same period a year earlier, according to the center which is an affiliate of Fudan University. The first-half figures were 40 per cent lower compared with the same period in 2019, it said.

About $11.8 billion went toward investments and $16.5 billion went to construction contracts partly financed by Chinese loans.