The bank, which is led by former US Treasury official David Malpass, defended its approach in a brief statement.The World Bank said Saturday its lending to China has fallen sharply and will continue to be pared back, after US President Donald Trump demanded it stop altogether.
The bank, which is led by former US Treasury official David Malpass, defended its approach in a brief statement. Treasury Secretary Steven Mnuchin told US lawmakers Thursday that the United States “has objected” to the institution’s multi-year program of loans and projects in China.The program “reflects the evolution of our relationship with China,” Martin Raiser, World Bank Country Director for China, said on Thursday. “Our engagement will be increasingly selective.”
China borrowing from World Bank, Nigeria borrowing from China
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