International News

China losing billions of dollars in coal power projects

oct 5,

China is losing billions of dollars as it has closed down many coal power projects in several countries that are members of its Belt and Road Initiative (BRI) project.The HK Post said that this is due to the growing opposition from the people in BRI countries for ineffective and unprofessional project implementation.China is also facing opposition from people and environmental activists in BRI countries. In 2020, over a score of NGOs came together in Turkey to protest Chinese banks investing in a coal-fired power plant in their country.Unprecedented protests against Chinese funding in Kenya led to the mothballing of the proposed Lamu plant. The iCBC was unable to deliver even a penny of the USD 1.2 billion funding.

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