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China rivals U.S. as loan source

Aid serves country’s own economic interest, report finds

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Photographs by Bloomberg News/ASIM HAFEEZ

Chinese welders work on the Engro Powergen Thar Ltd. power plant at a coal mine in Pakistan’s Thar desert in March. The project is one of several energy developments China is helping Pakistan build.

China is close to matching the United States as a source of official grants and loans to developing countries, but much of China's financing serves its own economic interests and yields scant benefits for recipients, a multinational group of researchers reported Wednesday.

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