Thursday, October 12, 2017

INTERESTING ... RUSSIA IS THE BIGGEST RECIPIENT OF FINANCIAL AID, FROM CHINA

Global financial aid comes in two forms. The first type of aid is tied development, and generally focuses on developing general programs, health projects, infrastructure, and other categories designed to assist state "development" goals. 


The second form of aid arrives in the shape of loans at market or near market rates, and is provided with the idea of developing resources that will be sold to the country providing aid. This is precisely the type of aid Russia is receiving from China.

According to Foreign Policy, Chinese foreign aid to Russia is almost exclusively for "commercial consideration" and "mostly about getting the thirsty Chinese economy access to Russia's huge reserves of oil."

Recipients of global financial aid from China (in red) ... Russia tops the list.
Between 2000 and 2014, Russia was the recipient of $36.6 billion in loans, grants, and other agreements from China (Pakistan is second with $24.3 billion). Over this same period, China provided some kind of financial assistance to 140 countries and territories. 

Total financial aid from China between 200 and 2014 was $354.3 billion, which places it just behind what the United States provided during the same period, $394.6 billion. Of this amount, North Korea "officially" received $272 million from China.


You can read the details by clicking here.

- Mark 

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