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President trump on Friday called on the world bank to stop lending to China. The day before, the World Bank approved a loan plan to China despite opposition from Washington.
The world bank on Thursday adopted a new plan to aid China, which will provide China with $1-1.5 billion of low interest loans annually until June 2025. The loan volume of the new plan will be "gradually reduced" from the average of $1.8 billion in the previous five years.
"Why does the world bank lend money to China? Is this OK? China is very rich. If not, they can make it by themselves. Stop! " Trump tweeted.
"World bank lending to China has declined significantly and will continue to decline as part of our agreement with all shareholder countries, including the United States," the bank said in an email to Reuters.
"As the affluence of the assisted countries increases, we will stop lending."
A White House spokesman declined to comment.
In the 2019 fiscal year ended June 30, the bank provided us $1.3 billion in loans to China, down from US $2.4 billion in 2017.
But for the trump administration, the bank's cuts in Chinese loans are not fast enough. The United States believes that China is already rich and should no longer receive international aid.
President trump on Friday called on the world bank to stop lending to China. The day before, the World Bank approved a loan plan to China despite opposition from Washington.
The world bank on Thursday adopted a new plan to aid China, which will provide China with $1-1.5 billion of low interest loans annually until June 2025. The loan volume of the new plan will be "gradually reduced" from the average of $1.8 billion in the previous five years.
"Why does the world bank lend money to China? Is this OK? China is very rich. If not, they can make it by themselves. Stop! " Trump tweeted.
"World bank lending to China has declined significantly and will continue to decline as part of our agreement with all shareholder countries, including the United States," the bank said in an email to Reuters.
"As the affluence of the assisted countries increases, we will stop lending."
A White House spokesman declined to comment.
In the 2019 fiscal year ended June 30, the bank provided us $1.3 billion in loans to China, down from US $2.4 billion in 2017.
But for the trump administration, the bank's cuts in Chinese loans are not fast enough. The United States believes that China is already rich and should no longer receive international aid.


please contact sales@tanchin.hk for any inquiry
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