US Senators Introduce Bill to Prevent World Bank from Lending to China

Republican Senator John Barrasso announced that a group of US senators has introduced a bill to prevent the World Bank and the Asian Development Bank from making loans to China.

“As the largest donor to these banks, the United States America (USA) has a responsibility to make sure that our money and resources go to the countries that need them most, not to China,” Barrasso said. “This bill would end lending to China and help reorient MDBs toward development goals.”

According to him, the bill, which was supported by more than 20 senators, including one representative of the Democratic Party, requires the Secretary of the Treasury to instruct US representatives in these organizations to "object any loan, extension or technical assistance to China by these institutions."

According to Barrasso's statement, since 2016, the World Bank has approved $9.6 billion for projects in China, and the Asian Development Bank has issued $10.6 billion in loans to finance projects in China as well.