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The China Development Bank is a development bank in the People's Republic of China, led by a cabinet minister at the Governor level, under the direct jurisdiction of the State Council.
China's ambitious Belt and Road Initiative (BRI) has been greatly affected by the COVID-19 pandemic, with Beijing quietly scaling back the project, particularly in the emerging markets of Africa, due to banks being over-extended and loans not being repaid on time.
Despite pressure from the Group of 20 major economies, Beijing has been resisting to disclose the details on its lending to developing nations as low-income countries have been struggling with their vaccination campaigns.
Sri Lanka's ambassador to China Palitha Kohona on Monday dismissed suggestions that the country is planning to extend a 99-year lease granted to Beijing to run the Hambantota port.
Morocco announced on Saturday 4,045 new COVID-19 cases, taking the tally in the North African country since March 2 to 194,461.
,000 crore would get zero proceeds. According to banking sources, Chinese banks namely China Development Bank, China Exim Bank ...