Left Menu
Development News Edition

UPDATE 1-Trump calls for World Bank to stop loaning to China


UPDATE 1-Trump calls for World Bank to stop loaning to China
US President Donald Trump (File photo) Image Credit: ANI

U.S. President Donald Trump on Friday 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 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. The plan calls for lending to "gradually decline" from the previous five-year average 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 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 $1.3 billion in the fiscal 2019 year, which ended on June 30, a decrease from around $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 wealthy for international aid.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

Small suspected homemade bomb explodes at HK hospital, no injuries

A suspected small-scale homemade bomb exploded at a general hospital in Hong Kong on Monday, causing the temporary evacuation of some patients but no injuries, police said. The incident came after a group of protesters on Sunday set alight ...

FOREX-Yuan hits 3-week low, yen rises as China grapples with virus outbreak

The yuan fell in offshore trade on Monday to its lowest level in three weeks as the death toll in China from the spread of a new coronavirus mounted, raising worries authorities are struggling to contain the outbreak and sparking a bout of ...

Lillard scores 50 as Blazers down Pacers

Damian Lillard continued his scoring spree with 50 points, matched his season high of 13 assists and grabbed six rebounds to lead the Portland Trail Blazers to a 139-129 victory over the visiting Indiana Pacers on Sunday night. Lillard made...

Report: Bolton says Trump tied Ukraine funds to Biden probe

Washington, Jan 27 AP President Donald Trump told his national security adviser he wanted to maintain a freeze on military assistance to Ukraine until it aided political investigations into his Democratic rivals, according to a report in Th...

Give Feedback