China Belt and Road Spending in Russia, Sri Lanka Falls to Zero

Workers walk past hoardings for the Colombo Port City, developed by China Harbour Engineering Co., a unit of China Communications Construction Co., in Colombo, Sri Lanka, on March 30, 2018. Photo: Bloomberg

(Bloomberg) — China’s Belt and Road financing and investments fell in the first half, with no new spending in Russia, Sri Lanka and Egypt, according to a study by the Green Finance & Development Center.

Financing and investments were at $28.4 billion in the first six months, compared with $29.4 billion in the same period a year earlier, according to the center which is an affiliate of Fudan University. The first-half figures were 40% lower compared with the same period in 2019, it said.