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    Opinion: China's Role As The World's Development Bank Cannot Be Ignored

    China's development banks provide as much financing to developing countries as the World Bank does, Boston University's Kevin Gallagher explains.
    by Kevin P. Gallagher Oct 11, 2018 3 minutes
    A woman walks in front of the China Development Bank tower in the Pudong district of Shanghai in 2015. That and the Export-Import Bank of China have provided nearly $1 trillion in financing to foreign governments since the early 2000s.

    Kevin P. Gallagher (@KevinPGallagher) is the director of the Global Development Policy Center at Boston University's Pardee School for Global Studies.

    China has become the world's largest development bank.

    According to new research at Boston University's Global Development Policy Center, the China Development Bank and the Export-Import Bank of China now provide as much financing to developing countries as the World Bank does.

    Those are just the figures for China's two national level development banks and does not include Chinese bilateral and multilateral development finance arrangements.. China also helped create the New Development Bank with Brazil, India, Russia and South Africa, and the Asian Infrastructure Investment Bank with nearly 80 countries in Asia and beyond.

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