World Bank to End Lending to China by 2031

The World Bank announced on Thursday that it will phase out its lending to China by 2031, as outlined in its new country partnership framework. The International Bank for Reconstruction and Development (IBRD) lending will not exceed US$ 2 billion during this period, with no further borrowing expected by the end of the framework.

Anna Bjerde, World Bank managing director of operations, stated that the partnership, which has lasted 45 years, is evolving from financing to a focus on technical assistance and knowledge sharing. The World Bank's lending to China has decreased significantly, from a peak of $2.42 billion in 2017 to an anticipated $750 million by 2025.

China's Deputy Finance Minister Liao Min emphasized that China will continue to engage with the World Bank despite the changing lending relationship. The new five-year plan aims to foster economic growth, improve job quality, enhance social resilience, and promote a low-carbon economy.