1、 www.bu.edu/gdpGlobal Development Policy CenterGCI POLICY BRIEF 017 01/2023“Small is Beautiful”A New Era in Chinas Overseas Development Finance?REBECCA RAY1EXECUTIVE SUMMARYIn 2020 and 2021,the Chinas Overseas Development Finance(CODF)Database,managed by the Boston University Global Development Poli

2、cy(GDP)Center,recorded$10.5 billion in new loan commitments from Chinas two main development finance institutions(DFIs),the China Development Bank(CDB)and the Export-Import Bank of China(CHEXIM).This amount represents a continuation of the decline that has characterized Chinese overseas development

3、finance since it peaked in 2016.The CODF Database is the first global,harmonized,validated and geolocated record of Chinese overseas development finance.It covers the years 2008-2021 and includes loan commitments from CDB and CHEXIM to governments,inter-governmental bodies,major-ity state-owned enti

4、ties and minority state-owned entities with sovereign guarantees.Launched in December 2020,the January 2023 update includes commitments for the years 2020 and 2021.1Acknowledgements:This work benefitted from valuable research assistance provided by Dora Betts,Alvin Camba,Siqi Chen,Hua-Ke(Kate)Chi,Vi

5、ctoria Chin Ching,Jessica DiCarlo,Laura Gormley,Xinyi Han,Eleanor Horvath,Anjali Kini,Yud-ong(Nathan)Liu,Hsuan Lo,Yaxiong Ma,Ivan Nikitovic,Henry Nossiter,Andrea Pareja Villegas,Mackenzie Paskerian and Yiyang Xu.The author also gratefully acknowledges Oyintarelado(Tarela)Moses for data support.Rebec

6、ca Ray is a Senior Aca-demic Researcher at the Boston University Global Development Policy Center.She holds a PhD in Economics from the University of Massachusetts-Amherst and an MA in International Devel-opment from the Elliott School of International Affairs at the George Washington University.Sin