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China’s Belt and Road Initiative is expanding to Afghanistan after a new agreement reached on Saturday.
Pakistan made the announcement, saying its own China-Pakistan Economic Corridor would be extended to “enhance development cooperation.”
Afghanistan has been hit hard by sanctions following global concerns that they shelter and fund terrorist groups. The nation has also received condemnation for its treatment of Afghan women, who now face school and work restrictions.
This has left the Taliban cash-strapped. The agreement will now potentially draw in billions of loaned dollars to fund infrastructure projects.
But while some herald the agreement as a win for the Taliban, others warn that it is a debt trap. China reserves the right to seize the projects if a debt default occurs. For example, Beijing took control of a Sri Lankan port back in 2019.
The Belt and Road Initiative mainly targets impoverished countries with its loans to build China’s economic and global power. Since 2013, the communist nation has invested nearly $1 trillion in roughly 140 countries.