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World Bank to phase out Chinese loans by 2031
The World Bank announced its intention to gradually cease providing loans to China by 2031, in a move aimed at reducing funding directed toward the world's second-largest economy. This decision comes because China is less in need of developmental financing compared to low-income developing countries. The lending cap for China will be set at around two billion dollars before being completely phased out, with the proposed plan to be discussed by the Board of Directors at its meetings in July.
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