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World Bank to phase out China lending

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NEWSDECK ANALYSIS
The World Bank's decision to phase out lending to China comes after years of criticism from some quarters that the country's economic rise has made it less reliant on international aid. As a significant economy, China's borrowing from the World Bank has been seen by some as inconsistent with the institution's mission to alleviate poverty in low-income countries. The World Bank's lending policies have been under scrutiny, particularly from the US, which has questioned the allocation of funds to upper-middle-income countries like China.
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World Bank to phase out China lending
Decision from global development institution follows years of pressure from the Trump administration
30 Jun, 20:47
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