According to German newspaper Die Welt, KfW has provided 503 million euros in loans to Chinese companies since 2013. Olaf in der Beek, a Liberal Democrat member of the German Federal Parliament’s Committee for Economic Cooperation and Development, accused the German government of providing aid to Beijing’s expansionist policies.
He said Germany paid for part of China’s Silk Road initiative, which finances China’s bid for geopolitical power in Asia and Africa.
Under questioning from the opposition Liberal Democratic Party’s Federal Parliamentary Group, the German government replied that since 2013, KfW has disbursed 503 million euros in loans to Chinese companies for the implementation of infrastructure projects. More than half of these funds, i.e. 283.2 million euros, were used for the implementation of infrastructure projects outside of China. In addition, this German development bank disbursed €152.3 million to Chinese companies to carry out projects in Asia. The remaining 130.9 million euros were used to support projects of Chinese companies in Africa.
In its response, the German government wrote that the projects promoted by KfW are not part of the Belt and Road Initiative. However, the government did not provide any evidence.
This is not credible, according to FDP MP De Beck. Instead of blindly financing China’s great power and expansionist policies, Berlin needs the political will to pursue a common European policy.
Since 2013, China has been pursuing ambitious global goals within the framework of the Belt and Road Initiative. China is building a network of infrastructure. According to Chinese information, the network could connect more than 100 countries worldwide. China says this is to facilitate global trade.
Critics see this initiative as part of China’s aggressive expansionist policy to expand its global power. Asian and African countries have an important role in the Belt and Road Initiative.
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