By Saadet Gokce
ISTANBUL (AA) – China is "increasingly" shifting toward providing loans and grants to higher-income countries, with the United States being the largest recipient, according to a study published on Tuesday.
The total amount of Chinese aid and loans is $2.2 trillion and is spread across 200 countries in every region of the world, according to AidData, a research lab at William & Mary University in the US.
"The overall size of China’s portfolio is two-to-four times larger than previously published estimates suggest," said Brad Parks, AidData’s executive director and the lead author of the report.
According to Parks, "Much of the lending to wealthy countries is focused on critical infrastructure, critical minerals, and the acquisition of high-tech assets, like semiconductor companies."
Between 2000 and 2023, the US received more than $200 billion in credit to fund nearly 2,500 projects and activities.
Russia was granted $172 billion in credit, while Australia received $130 billion.
Venezuela secured $196 billion in credit.
The UK received $60 billion, and the EU countries received a total of $161 billion for approximately 1,800 projects and activities.
Beijing is increasing its cross-border lending activities and policy priorities, including "those related to national security and economic statecraft," it stated.
In 2023, China spent $1.9 billion on aid, its lowest level in two decades.
The dataset comprises more than 30,000 projects and activities from 1,193 Chinese donors and lenders, supported by grants and loans across 217 countries and territories between 2000 and 2023.
The report said researchers are finding it difficult to study China because official information about the country's overseas lending and grant-giving programs is becoming increasingly hard to obtain.