About 15 Chinese Belt and Road Initiative (BRI) projects worth over USD 2.4 billion ran into trouble last year, according to a London-based think tank report.The Overseas Development Institute (ODI) said in a report titled 'China navigates its Covid-19 recovery - outward investment appetite and implications for developing countries' that the overall figure could be higher of all the setbacks to delays caused by the COVID-19 pandemic, South China Morning Post (SCMP) reported.According to the report, China Export & Credit Insurance Corporation (Sinosure) was "greatly frustrated" by Zimbabwe's failure to pay a USD 10 million commitment fee for the Kunzvi Dam electricity project, contracted to Sinohydro. The report said the Zimbabwean government was understood to already owe a substantial debt to Sinosure.Furthermore, the study tracked BRI projects between January and November last year and found several projects affected by delays due to COVID-19 as Myanmar and Nigeria closed their
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Saturday, February 6, 2021
Covid-19, other concerns affected China's BRI projects in 2020: Report
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