VIVAnews - China since the last two years to give larger loans from the World Bank offered to developing countries. Even borrowing from China was accompanied by conditions that are lighter than the specified World Bank.
Thus the results of research conducted by economic and business newspaper from the UK, the Financial Times (FT), Tuesday, January 18, 2011. According to the FT, China Development Bank and China Export-Import Bank to disburse loans worth U.S. $ 110 billion during 2009-2010. World Bank loans of about U.S. $ 100 billion from mid 2008 until mid 2010.
Two Chinese banks did not provide details of loans they provided, so that the study of FT according to an official announcement regarding the agreement between the creditors or the government of China with the borrower.
However, Chinese state banks that often makes loans that are "political," that the conditions are not stringent and is lighter than that required by the World Bank. BBC television, which monitors the FT survey, revealed that the two banks that have a mandate to conduct business in accordance with China's national interests.
One of the specific task of China Development Bank is also overcome difficulties in the procurement of natural resources or land for economic development in China.
So, according to the FT survey which was also monitored by the Voice of America, as the rapid demand in China's energy imports, the two banks that have a lot of the project agreement "debt-for-oil" with a number of energy producers, like Russia, Venezuela, and Brazil. In fact, amid the global financial crisis in the last two years, applying for loans is very difficult.
Meanwhile, the World Bank said it was working closely with China and welcomes the important partnerships and continue to grow between the two parties.
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