Iraq was the top target for China's Belt & Road infrastructure initiative in 2021, receiving $10.5 billion in financing for projects including a heavy oil power plant, a study published on Wednesday said.
China's BRI contract values in 2021 were $45.6 billion, up from $37 billion a year earlier, while investments shrank to $13.9 billion from $23.4 billion.
For 2022, the researchers expect an acceleration of green projects, in line with government guidelines, although oil-related finance and investment under BRI surged to $6.4 billion in 2021 from $1.9 billion in 2020.
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