Over the past decade China has become a major source of financing for several Latin American countries. The bulk of this financing came from state-owned development banks, but in recent years, commercial banks from the Asian giant have increased their activity in the region. Which Latin American country has been the largest recipient of loans from Chinese commercial banks?

ANSWER

Argentina. By far, this South American country has received the most financing from Chinese commercial banks, with 36 loans between 2007 and 2021, according to an analysis by the U.S. think tank Inter-American Dialogue. This phenomenon is largely explained by the significant presence of the Chinese commercial bank ICBC, which acquired the Argentine subsidiary of the South African bank Standard Bank in 2012. After Argentina, Brazil is the country with the most loans, followed by Peru and Chile. You can view the Inter-American Dialogue report at

https://www.thedialogue.org/map_list/