Trump calls for World Bank to stop lending money to China
WASHINGTON: US President Donald Trump on Friday (Dec 6) called for the World Bank to stop lending money to China, one day after the institution adopted a loan plan to Beijing over Washington's objections.
The World Bank on Thursday adopted a plan to aid China with US$1 billion to US$1.5 billion in low-interest loans annually through June 2025. The plan calls for lending to "gradually decline" from the previous five-year average of US$1.8 billion.
"Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don't, they create it. STOP!" Trump wrote in a post on Twitter.
Spokespeople for the White House and the World Bank did not immediately respond to requests for comment.
The World Bank loaned China US$1.3 billion in the fiscal 2019 year, which ended on Jun 30, a decrease from around US$2.4 billion in fiscal 2017.