KfW loans: German millions for China’s expansion policy

China is pushing its expansion policy with German millions

With infrastructure projects in Africa and Asia, China is expanding its global power – and in return receives loans from Germany. More than 500 million euros in tax money from the federal budget have been approved for this since 2013.

WELT AM SONNTAG has the answer. More than half, 283.2 million euros, went to infrastructure projects outside of China. Accordingly, KfW awarded 152.3 million euros to Chinese companies that carried out projects in Asia. Almost half of this, more than 70 million euros, went to projects in Bangladesh; an additional 130.9 million euros to Chinese companies that carried out projects in Africa.

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Read also Aggressive Foreign Policy China’s Miscalculation China has been pursuing ambitious global goals since 2013 as part of the “Belt and Road” initiative (BRI), also known as the New Silk Road. The country is establishing an infrastructure network that, according to its own information, connects more than 100 countries. According to the Chinese representation, this is intended to promote global trade. Critics see the initiative as part of an aggressive expansion policy aimed at expanding China’s power.

Advertisement They point out that in most cases Chinese companies are commissioned with the projects. They also warn that Chinese lending can lead to over-indebtedness and political dependence, especially in small countries. Countries in Asia and Africa play a prominent role in China’s plans. The federal government writes that the projects carried out by KfW cannot be assigned to the “Belt and Road” initiative – but without providing evidence. headtopics.com

Also read hundreds of millions of euros Why Germany pays the superpower China development aid “To say that is simply implausible and hardly verifiable,” says Olaf in der Beek, Member of the FDP and member of the Bundestag Committee for Economic Cooperation and Development: “Germany pays part the Chinese Silk Road Initiative and finances the geopolitical power striving of China in Asia and Africa with tax money from the federal budget. “

As part of “Financial Cooperation”, Berlin supports measures that serve development, such as investments in the education and health system. The implementing organization is KfW. It receives funds from the federal budget and raises funds on the capital market. The volume of contracts concluded with Chinese companies corresponds to a share of 1.2 percent of all contracts awarded within the framework of “Financial Cooperation” from 2013 to 2020.

Read more: WORLD »

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