The Asian Development Bank (ADB) is set to discuss whether to end loans to China, following a demand from the U.S. administration, ADB President Masato Kanda revealed; reads a Japan News post.
China holds a 6.4% stake in the ADB, while also being a recipient of loans from the institution.
In April, U.S. Treasury Secretary Scott Bessent met with Kanda in the United States, urging the ADB chief to “take concrete steps toward putting China on a clear path to graduation from ADB borrowing.” This request follows the U.S. administration’s view that China, now an economic superpower, no longer requires loans from an institution meant to assist developing nations.
Speaking in an interview with The Yomiuri Shimbun in Milan on Friday, Kanda confirmed that the ADB will discuss the matter, but stressed that “nothing has been decided yet.” He highlighted that any final decision would require consensus among donor countries, including both the United States and China.
Kanda’s remarks come ahead of the ADB’s annual meeting, which is scheduled to take place in Milan from Sunday to Wednesday.
Bd-pratidin English/ Jisan
