When countries attempt to adopt policies aimed at more climate resilient growth trajectories, they naturally encounter the international trade and investment regime. This regime is comprised of the rules embodied by the World Trade Organization (WTO), as well as the over 200 regional and bilateral free trade agreements (FTAs) and the over 2,000 international investment agreements (IIAs) to which the world’s […]
By Tianyi Wu The portfolio of financiers participating in China’s overseas development finance is changing. Between 2000 and 2019, development finance institutions (DFIs), primarily the Export-Import Bank of China and the China Development Bank, dominated sovereign lending to Africa, committing over $143 billion across transport, energy and ICT (information and communications technology) sectors. Since 2018, […]
By Keyi Tang As development finance tightens, the most important question may not be who is lending, but how domestic politics shapes where the money goes. When a foreign-financed road is opened, the picture is clear that this project will connect farmers to markets, lower transport costs and bring neglected communities closer to opportunity. But […]
By Tianyi Wu In 2016, China committed $28.8 billion in infrastructure loans to African countries––a record peak that has been followed by a rapid drop as China shifted to the “small and beautiful” approach––with only $2.1 billion observed in 2024. This strategic shift reflects a fundamental recalibration of how China lends, but there is still […]
By Kaihui Song The year 2025 recorded the largest net addition to global coal capacity in over a decade, driven largely by China amid the country’s heightened energy security concerns. Recent geopolitical tensions, particularly the conflict in the Middle East, have disrupted liquefied natural gas (LNG) supply and prompted several countries to turn back to […]
China has committed over US$1 trillion in overseas financing, much of it directed toward productive public assets that have helped close infrastructure gaps and stimulate economic growth. Nevertheless, a series of external shocks—largely unrelated to Chinese financing—have left many countries struggling to pay external debts or borrow at affordable terms. As the Belt and Road […]
China’s development finance institutions (DFIs), primarily the China Development Bank (CDB) and the Export–Import Bank of China (CHEXIM), have become central players in global infrastructure development. At the same time, China’s overseas infrastructure projects have come under scrutiny for their climate impact. A new report by Hanjie Wang, Cecilia Springer and Ali Hasanbeigi puts this […]
By Rebecca Ray, Kevin P. Gallagher and Marina Zucker-Marques Once again, developing countries are experiencing shockwaves from a crisis they did not create. Since the US-Israel strikes on Iran began on February 28, global oil prices have skyrocketed, with consequences rippling far beyond the Middle East, impacting sovereign bond spreads across developing and emerging markets […]
By Julie Radomski, Tsitsi Musasike, Tinotenda Chidhawu, Hudson Mtegha and Earnest Rungano Chinyanga Lithium has emerged as an indispensable resource powering the energy transition, given its central role in electric vehicle batteries and battery energy storage systems. For Zimbabwe, endowed with Africa’s largest lithium reserves, this presents a historic opportunity. The country accounted for nearly […]
The mining sector contributed US$5.6 billion to Zimbabwe’s GDP in 2022 and is expected to contribute $20 billion in 2030. Despite this significant contribution, Zimbabwe does not have a standalone national mining policy or a transition mineral-specific strategy to ensure it reaps the full benefits from its lithium boom. This national policy gap takes on […]