In the News
Treasury Secretary Mnuchin says China should be ‘graduated’ from supportive World Bank loan program
Treasury Secretary Steven Mnuchin on Thursday agreed that the World Bank should expel China from a supportive loan program that helps middle- and low-income nations finance government projects.
Asked by Rep. Anthony Gonzalez, R-Ohio, whether he’d support graduating Beijing from the lending program, Mnuchin replied, “I do.”
The question from Gonzalez comes as he works to pass legislation that would curb World Bank funding to China by graduating the country from its International Bank for Reconstruction and Development. A unit of the World Bank, the IBRD offers myriad financial products and loans to countries hoping to reduce poverty and promote sustainable investing.
Read more here.