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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2362 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 2362
To oppose the provision of assistance to the People's Republic of China
by the multilateral development banks.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 21, 2025
Mr. Barrasso (for himself, Mr. Grassley, Mrs. Blackburn, Mr. Budd, Ms.
Ernst, Mr. Scott of Florida, Ms. Lummis, Mr. Lee, Mr. Ricketts, Mr.
Hawley, Mr. Cruz, Mr. Tillis, Mr. Marshall, and Mrs. Fischer)
introduced the following bill; which was read twice and referred to the
Committee on Foreign Relations
_______________________________________________________________________
A BILL
To oppose the provision of assistance to the People's Republic of China
by the multilateral development banks.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Ending Lending to China Act of
2025''.
SEC. 2. OPPOSITION TO PROVISION OF ASSISTANCE TO PEOPLE'S REPUBLIC OF
CHINA BY MULTILATERAL DEVELOPMENT BANKS.
(a) Findings.--Congress makes the following findings:
(1) The People's Republic of China is the world's second
largest economy and a major global lender.
(2) In April 2025, the foreign exchange reserves of the
People's Republic of China totaled more than
$3,281,000,000,000.
(3) The World Bank classifies the People's Republic of
China as a country with an upper-middle-income economy.
(4) On February 25, 2021, President Xi Jinping announced
``complete victory'' over extreme poverty in the People's
Republic of China.
(5) The Government of the People's Republic of China
utilizes state resources to create and promote the Asian
Infrastructure Investment Bank, the New Development Bank, and
the Belt and Road Initiative.
(6) The People's Republic of China is the world's largest
official creditor.
(7) Through a multilateral development bank, countries are
eligible to borrow until they can manage long-term development
and access to capital markets without financial resources from
the bank.
(8) The World Bank reviews the graduation of a country from
eligibility to borrow from the International Bank for
Reconstruction and Development once the country reaches the
graduation discussion income, which is equivalent to the gross
national income. For fiscal year 2025, the graduation
discussion income is a gross national income per capita
exceeding $7,895.
(9) Many of the other multilateral development banks, such
as the Asian Development Bank, use the gross national income
per capita benchmark used by the International Bank for
Reconstruction and Development to trigger the graduation
process.
(10) The People's Republic of China exceeded the graduation
discussion income threshold in 2016.
(11) Since fiscal year 2016, the International Bank for
Reconstruction and Development has approved project loans
totaling $12,938,000,000 to the People's Republic of China.
(12) In 2024, the Asian Development Bank approved loans and
technical assistance to the People's Republic of China totaling
more than $901,000,000. The Bank also approved non-sovereign
commitments in the People's Republic of China totaling more
than $483,000,000.
(13) The World Bank calculates the People's Republic of
China's 2024 gross national income per capita as $13,660.
(b) Statement of Policy.--It is the policy of the United States to
oppose any additional lending from the multilateral development banks,
including the International Bank for Reconstruction and Development and
the Asian Development Bank, to the People's Republic of China as a
result of the People's Republic of China's successful graduation from
the eligibility requirements for assistance from those banks.
(c) Opposition to Lending to People's Republic of China.--The
Secretary of the Treasury shall instruct the United States Executive
Director at each multilateral development bank to use the voice, vote,
and influence of the United States--
(1) to oppose any loan or extension of financial or
technical assistance by the bank to the People's Republic of
China; and
(2) to end lending and assistance to countries that exceed
the graduation discussion income of the bank.
(d) Report Required.--Not later than one year after the date of the
enactment of this Act, and annually thereafter, the Secretary of the
Treasury shall submit to the appropriate congressional committees a
report that includes--
(1) an assessment of the status of borrowing by the
People's Republic of China from each multilateral development
bank;
(2) a description of voting power, shares, and
representation by the People's Republic of China at each such
bank;
(3) a list of countries that have exceeded the graduation
discussion income at each such bank;
(4) a list of countries that have graduated from
eligibility for assistance from each such bank; and
(5) a full description of the efforts taken by the United
States to graduate countries from such eligibility once they
exceed the graduation discussion income at each such bank.
(e) Definitions.--In this section:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(A) the Committee on Foreign Relations of the
Senate; and
(B) the Committee on Financial Services and the
Committee on Foreign Affairs of the House of
Representatives.
(2) Multilateral development banks.--The term
``multilateral development banks'' has the meaning given that
term in section 1701(c) of the International Financial
Institutions Act (22 U.S.C. 262r(c)).
<all>
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations. (text: CR S4506)
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