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The Most Owed Countries to China in 2025
1. Pakistan: Leading with $26.6 Billion
Pakistan continues to be the largest debtor to China, holding an impressive debt of $26.6 billion. This substantial figure underscores the deep economic ties between the two nations, particularly through China’s expansive Belt and Road Initiative (BRI). The debt primarily comes from infrastructure projects such as roads, ports, and energy plants, which are crucial for Pakistan’s economic development, yet raise concerns about debt sustainability.
2. Angola: $21 Billion in Debt
Africa’s oil-rich nation, Angola, tops the list with a debt of $21 billion owed to China. Chinese investments have heavily financed Angola’s energy and infrastructure sectors, bolstering its economy but also raising questions about long-term debt management. The reliance on Chinese loans has increased Angola’s financial vulnerability amid fluctuating oil prices.
3. Sri Lanka: $8.9 Billion
Despite recent economic turmoil, Sri Lanka still owes approximately $8.9 billion to China. Most of this debt is tied to large infrastructure projects like the Hambantota Port, which has become a symbol of Sri Lanka’s debt challenges. The island nation is working on restructuring its debts and reducing dependency on Chinese loans.
4. Ethiopia: $6.8 Billion
Ethiopia’s development efforts have been significantly supported by Chinese financing, amounting to roughly $6.8 billion. Chinese investments are integral to Ethiopia’s infrastructure, manufacturing, and energy sectors. While these projects aim to boost economic growth, Ethiopian officials are scrutinizing the country’s debt levels to prevent future financial strain.
5. Kenya: $6.7 Billion
Kenya owes about $6.7 billion to China, mainly for infrastructure projects like railways, ports, and roads. The Standard Gauge Railway (SGR) is among the most high-profile projects financed through Chinese loans, which have spurred economic development but also sparked debates over debt transparency and repayment terms.
6. Zambia: $6.1 Billion
Zambia’s strategic partnership with China has resulted in a debt of around $6.1 billion. The country’s reliance on Chinese-funded mining infrastructure and energy projects has taken a toll on its debt profile, prompting discussions about diversification and debt management strategies.
7. Bangladesh: $6.1 Billion
Bangladesh has accumulated significant Chinese debt amounting to roughly $6.1 billion, mainly for large-scale infrastructure and energy projects. The country’s rapid economic growth has been partly powered by these investments, though concerns about debt sustainability remain.
8. Laos: $5.3 Billion
Landlocked Laos owes China about $5.3 billion. The debt mainly stems from energy, transport, and hydropower projects. As Laos pushes for economic expansion and energy independence, its Chinese debt profile is closely monitored by regional analysts.
9. Egypt: $5.2 Billion
Egypt owes approximately $5.2 billion to China, predominantly for infrastructure and energy projects, including ports and industrial zones. The Chinese loans are seen as catalysts for Egypt’s “Grand Egyptian Museum” and various industrial reforms, although debt levels are under scrutiny.
10. Nigeria: $4.3 Billion
Nigeria’s debt to China stands at $4.3 billion. Chinese financing has supported oil sector infrastructure and transportation networks. Nigeria aims to balance development needs with cautious debt management amid fluctuating oil prices.
11. Ecuador: $4.1 Billion
Ecuador’s Chinese debt hit $4.1 billion, with large investments in infrastructure and energy. The country seeks to avoid over-reliance on Chinese financing by pursuing diversified development sources.
12. Cambodia: $4.0 Billion
Cambodia owes China around $4 billion, primarily for transportation and energy infrastructure. It continues to benefit from Chinese investments despite ongoing debates over debt sustainability and transparency.
13. Belarus: $3.9 Billion
Belarus maintains a debt of roughly $3.9 billion to China, largely from energy and industrial projects. The partnership aims to boost Belarus’ manufacturing capacity and regional connectivity.
14. Ivory Coast (Côte d’Ivoire): $3.9 Billion
Côte d’Ivoire owes China about $3.9 billion, mostly for roads, ports, and energy facilities. The country’s infrastructure development heavily leans on Chinese loans to attract foreign investment.
15. Cameroon: $3.8 Billion
Cameroon owes approximately $3.8 billion to China. With projects spanning railways and energy, Cameroon’s debt reflects its strategic efforts to modernize its economy with Chinese support.
16. South Africa: $3.4 Billion
South Africa’s Chinese debt is around $3.4 billion, mainly for infrastructure, renewable energy, and mining projects. While Chinese investments drive growth, debt management remains a key concern.
17. Republic of the Congo: $3.4 Billion
The Republic of the Congo relies heavily on Chinese financing to develop its oil industry and infrastructure, with a debt of about $3.4 billion. Managing debt sustainably is vital for its economic stability.
18. Brazil: $3.4 Billion
Brazil owes close to $3.4 billion to China, primarily for energy and infrastructural projects. Chinese investment is vital for Brazil’s economic strategies, especially in energy and transportation.
19. Mongolia: $3.0 Billion
Mongolia’s debt to China, roughly $3 billion, supports mining, energy, and transport. The country is balancing development ambitions with cautious debt strategies amidst changing regional dynamics.
20. Argentina: $2.9 Billion
Argentina’s Chinese debt stands at about $2.9 billion. It is key for financing energy, infrastructure, and technology sectors, bolstered by stronger economic ties with Asia.
As of 2025, the global landscape of Chinese lending continues to influence developing nations’ economic trajectories. While Chinese investments fuel development, concerns about debt sustainability remain central to regional and international economic discussions.
Source: World Bank, 2025
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