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US to Block Development Bank Loans to China: Shifting Foreign Aid Policy.

This bill mandates the US to oppose all new loans and financial assistance from multilateral development banks, such as the World Bank, to the People's Republic of China. The rationale is that China is the world's second-largest economy, possesses vast reserves, and has exceeded the income threshold for receiving development aid. The goal is to redirect these resources to nations genuinely requiring financial support, impacting the efficiency of global financial aid.
Key points
The US will use its vote and influence in international banks to block new loans and technical assistance to China.
US policy aims to end aid for all countries that have reached a high income level and no longer qualify for development support.
This change ensures that development aid funds are focused on the poorest nations instead of large, wealthy economies.
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Expired
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Additional Information
Print number: 118_S_908
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2023-03-22
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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 118_S_908.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-22.

What are the main provisions?

Key points include:

  • The US will use its vote and influence in international banks to block new loans and technical assistance to China.
  • US policy aims to end aid for all countries that have reached a high income level and no longer qualify for development support.
  • This change ensures that development aid funds are focused on the poorest nations instead of large, wealthy economies.
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 2025-12-27.

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