With over $66 billion in total capital, China has passed Japan to become the second largest contributor to the system of development banks that provide some $200 billion in subsidized loans to poor countries each year, a new report said Thursday.
While China still receives loans and other aid from multilateral institutions like the World Bank and U.N. agencies, it has also emerged as one of the most powerful donors, according to the Center for Global Development.
It said that China, the world’s second largest economy after the United States, is the fifth largest overall donor across the range of United Nations agencies focused on development, including the U.N. Development Program, World Food Program, and World Health Organization.
Beijing’s role as a major donor, shareholder, aid recipient, and commercial partner of international institutions gives it “uniquely influential position,” the think tank said, citing a detailed look at China’s role at 76 global institutions.
