U.S. President Donald Trump prepares to address the annual March for Life rally, taking place on the nearby National Mall, from the White House Rose Garden in Washington, U.S., January 19, 2018. REUTERS/Carlos Barria U.S. President Donald Trump prepares to address the annual March for Life rally, taking place on the nearby National Mall, from the White House Rose Garden in Washington, U.S., January 19, 2018. REUTERS/Carlos Barria

Trump calls for World Bank to stop loaning to China

By: MENA
Sat, Dec. 7, 2019
NEW YORK, Dec 7 (MENA) - US President Donald Trump called for the World Bank to stop loaning money to China, one day after the institution adopted a lending plan to Beijing over Washington's objections, The New York Times reported.

The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans annually through June 2025.

"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.

On Thursday, Treasury Secretary Steven Mnuchin told lawmakers on the House Financial Services Committee that the United States had objected to the World Bank’s new five-year framework for lending to China and working on projects there.

“We negotiated significant reductions in China lending with a path to get below $1 billion,” Mr. Mnuchin said.
 
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