Ending Loans to China from Multilateral Development Banks
This act aims to stop multilateral development banks, like the World Bank, from lending money to China. The reasoning is that China is the world's second-largest economy and no longer needs financial aid meant for developing nations. For US citizens, this means their tax dollars will not support loans to a country that is itself a major global lender.
Key points
The U.S. will oppose further loans to China from multilateral development banks.
The U.S. Treasury Secretary will direct U.S. representatives in these banks to vote against such loans.
The act mandates annual reports on China's borrowing status and U.S. efforts to end aid to high-income countries.
Introduced
Citizen Poll