Chairman Hill Applauds World Bank Decision to Phase Out Lending to China
House Committee on Financial Services Chairman French Hill (AR-02) issued the following statement after the World Bank announced it will phase out its lending to China by 2031:
“I’m pleased to see the World Bank take long overdue steps to restore common sense policies. As the world’s largest official creditor, China should not benefit from development financing intended for countries in greater need. Following the World Bank’s decision, I hope the Asian Development Bank will quickly follow suit.”
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