Beijing: China has given Rs 20 lakh crore loans to bankrupt countries like Pakistan and Sri Lanka. It also charges 5 percent interest.
China introduced the ‘Belt and Road’ project 10 years ago, claiming to improve trade relations with the world, and is taking steps to connect the 150 countries that are part of it with its country by road and sea.
China introduced the ‘Belt and Road’ project 10 years ago, claiming to improve trade relations with the world, and is taking steps to connect the 150 countries that are part of it with its country by road and sea.
In two decades those countries will receive Rs. China has given loans up to 20 lakh crores. China charges 5 percent interest on loans given by international trade bodies like the IMF, while charging 2 percent interest.
There are also reports that the borrowing countries are asking China to behave favorably and many conditions are being imposed.
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