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US Opposes Loans to China from Development Banks

This bill aims to stop further loans to China from international development banks like the World Bank. The United States believes China is wealthy enough and should no longer receive aid intended for poorer nations. This could impact global financial policy and how international institutions support economic development.
Key points
The U.S. opposes loans to China from multilateral development banks, arguing China is an upper-middle-income economy.
The Secretary of the Treasury will direct U.S. representatives in these banks to block such loans.
The bill requires annual reports on China's borrowing status and U.S. efforts to end aid to countries exceeding income thresholds.
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Expired
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Additional Information
Print number: 117_S_2587
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2021-08-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to oppose the provision of assistance to the People's Republic of China by the multilateral development banks.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2587.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-08-03.

What are the main provisions?

Key points include:

  • The U.S. opposes loans to China from multilateral development banks, arguing China is an upper-middle-income economy.
  • The Secretary of the Treasury will direct U.S. representatives in these banks to block such loans.
  • The bill requires annual reports on China's borrowing status and U.S. efforts to end aid to countries exceeding income thresholds.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Barrasso, John [R-WY].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Public Investments