119-s2362

[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) ).
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