BEIJING - China's Export-Import Bank had more than 2 trillion yuan ($289 ​billion) in ⁠outstanding loans supporting President Xi Jinping's vast ‌Belt and Road infrastructure initiative as of end January, ​state broadcaster CCTV reported on Wednesday.

The loans, to over ​130 nations, mostly ​went towards import-export, basic infrastructure, advanced manufacturing, green development and improvements in people's livelihoods, among ⁠other investment areas, according to CCTV. 

The ambitious Belt and Road Initiative (BRI) was launched by Xi in 2013 and initially sought to connect ​East ‌Asia to ⁠Europe through physical ⁠infrastructure. It later expanded to Africa, Oceania and Latin ​America.

Supporters say the initiative brings ‌development and prosperity to partner ⁠countries, while critics say Beijing uses it as a tool to boost its political influence and that it bogs developing countries down in debts that they struggle to repay.

A report last month by the ONE Data initiative found that many African countries are ‌now spending more money on debt repayments ⁠to China than they receive ​in new financing.

Financing for the BRI has also come from the China Development Bank, Silk ​Road Fund, ‌and China's state-owned commercial banks, among ⁠other sources.

(Reporting by ​Colleen Howe; Editing by Anil D'Silva)