To be fair, that has been pretty much the world bank playbook for decades. I dont see why an exploitation in that form would revert back to more classic forms of colonialism. Upholding a colonial regime is simply not worth the effort if you have similar financial benefits with loans with horrible conditions.
[1] https://en.m.wikipedia.org/wiki/Atrocities_in_the_Congo_Free...
> Neocolonialism, neo-colonialism, postmodern imperialism, or neo-imperialism is the practice of using capitalism, globalization and cultural imperialism to influence a developing country in lieu of direct military control (imperialism) or indirect political control (hegemony). It was coined by Kwame Nkrumah in the context of African countries undergoing decolonization in the 1960s.
In my humble experience, they are disproportionately likely to be the descendants of colonizers and are sometimes uncomfortable with their own privilege.