US president Donald Trump is leaded during his press conference at the 2018 NATO Summit in Brussels, Belgium on July 12, 2018.
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U.S. President Donald Trump on Friday called for the World Bank to stop loaning money to China, one day after the introduction adopted a lending plan to Beijing over Washington’s objections.
The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest advances annually through June 2025. The plan calls for lending to “gradually decline” from the previous five-year ordinary of $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 fashion it. STOP!” Trump wrote in a post on Twitter.
“World Bank lending to China has fallen sharply and will sustain to reduce as part of our agreement with all our shareholders including the United States,” the World Bank said in an emailed disclosure to Reuters.
“We eliminate lending as countries get richer.”
Spokespeople for the White House declined to comment on the record.
The World Bank allowanced China $1.3 billion in the fiscal 2019 year, which ended on June 30, a decrease from enclosing $2.4 billion in fiscal 2017.
But the fall in the World Bank’s loans to China is not swift enough for the Trump administration, which has argued that Beijing is too rolling in it for international aid.