China’s thirst for overseas energy investments is slaking, at least by one tally.
The nation’s financing for so-called Belt and Road Initiative energy projects dropped 28 percent to $14.3 billion last year from $19.9 billion, according to data released
Monday by Boston University’s Global Development Policy Center. Spending last year included investments in gas pipelines in Malaysia, coal power plants in the Pakistani desert and an oil terminal in Bangladesh.
...the initiative traverses territory where most bond investors fear to tread. The infrastructure projects also carry uncertainty, with eight countries “at particular risk of debt distress,” according to a research report
released last week by the Washington-based Center for Global Development.
It also targets energy sources that have fallen out of favor with international investors. Coal has been the biggest energy source targeted by the banks, with about $44 billion, or a third of energy investments, geared toward the fuel since 2001, according to the research. Oil followed at almost $31 billion and natural gas garnered roughly $27 billion, according to the data.