Global financial aid comes in two forms. The first type of aid is tied development, and generally focuses on developing general programs, health projects, infrastructure, and other categories designed to assist state "development" goals.
The second form of aid arrives in the shape of loans at market or near market rates, and is provided with the idea of developing resources that will be sold to the country providing aid. This is precisely the type of aid Russia is receiving from China.
According to Foreign Policy, Chinese foreign aid to Russia is almost exclusively for "commercial consideration" and "mostly about getting the thirsty Chinese economy access to Russia's huge reserves of oil."
Recipients of global financial aid from China (in red) ... Russia tops the list. |
Total financial aid from China between 200 and 2014 was $354.3 billion, which places it just behind what the United States provided during the same period, $394.6 billion. Of this amount, North Korea "officially" received $272 million from China.
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- Mark
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