The report released Wednesday by the Green Finance & Development Center at Shanghai’s Fudan University looked at China’s investment in its long-running Belt and Road Initiative (BRI), which aims to recreate the Silk Road for the modern age.
Overall 2021 BRI investment dropped from $60.5 billion to $59.5 billion as China follows through with a plan to drop overall foreign investment to $550 billion between 2021 and 2025 – down 25% from $740 billion between 2016 and 2020 – but investment increased in Africa and the Middle East. Iraq in particular benefited from around $10.5 billion in construction contracts, the report found.
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