Bill > S2587

This bill opposes the provision of assistance to the People's Republic of China (China) by the multilateral development banks, such as the International Bank for Reconstruction and Development and the Asian Development Bank. The bill cites several findings, including that China is the world's second-largest economy, has significant foreign exchange reserves, and has been classified as an upper-middle-income economy by the World Bank. The bill states that China has exceeded the income threshold for graduation from eligibility for assistance from these banks, but the banks have continued to provide loans and technical assistance to China. The bill directs the U.S. Secretary of the Treasury to instruct the U.S. Executive Director at each multilateral development bank to oppose any further lending or assistance to China, as well as to end lending and assistance to countries that exceed the graduation income threshold.

Government Affairs

https://www.congress.gov/bill/117th-congress/senate-bill/2587/all-info