- Category: Economy
- Published on Monday, 11 October 2021 10:21
October 8, 2021
Every one dollar of Chinese aid costs the Western Balkan countries $14 of new debt, AidData Institute and Willian and Mary University showed in their latest research. Institute Director Brad Parks told N1 on Friday that the Chinese debt now surpasses the amount of the EU and US aid in the region.
On average, China spent some $85 billion on foreign development projects which is over 50 percent more than what the US spent, he said.
Parks noted that China provided just under $7 billion to the Western Balkans region – 88 percent of which was debt and only 12 percent was aid.