US Treasury Official Presses Asian Development Bank to Phase Out China Loans

WASHINGTON (The News Pulse) — On Friday, the U.S. Treasury Department reported that Treasury Secretary Scott Bessent encouraged Asian Development Bank President Masato Kanda to implement specific measures aimed at ceasing lending activities to China.

In a bilateral discussion, Bessent underscored the importance of adopting "an all-inclusive energy approach." They also discussed perspectives on funding civil nuclear power with Kanda.

The Treasury stated that Secretary Bessent encouraged President Kanda to implement specific actions aimed at facilitating China’s transition away from ADB loans, highlighting the importance of the Bank's efforts in enhancing procurement processes for optimal value.

(Reported by David Lawder; Edited by Paul Simao)