The Ministry of Foreign Affairs responded that Yellen claimed that China is not eligible to receive World Bank loans from financial institutions such as the United States and the World Bank
On June 14th, Foreign Ministry spokesperson Wang Wenbin presided over a regular press conference.
A reporter asked, US Treasury Secretary Yellen said yesterday that institutions such as the International Monetary Fund and the World Bank reflect the values of the United States and are a key force in balancing unsustainable loans from other countries such as China. She also stated that China is not eligible for loans from the World Bank. What is your comment on this?
Wang Wenbin's data chart. Wang Wenbin stated that the International Fund and the World Bank are multilateral financial institutions, platforms that reflect the democratization of international relations, and promote international cooperation on the basis of fully reflecting the interests of member countries. They are not the International Monetary Fund or the World Bank.
Wang Wenbin stated that China has always followed international rules, based on the principle of openness and transparency, conducted investment and financing cooperation with developing countries, without attaching any political conditions, and does not seek any political self-interest. China has been helping developing countries alleviate their debt burden and has made the greatest contribution in the G20 debt relief initiative.
![The Ministry of Foreign Affairs responded that Yellen claimed that China is not eligible to receive World Bank loans from financial institutions such as the United States and the World Bank](https://a5qu.com/upload/images/7281d7386014b6aa8608e3a3dde19530.jpg)
According to statistics from the World Bank, multilateral financial institutions and commercial creditors account for over 80% of the sovereign debt of developing countries, which is the largest source of debt pressure for developing countries. Since last year, the United States has raised interest rates at an unprecedented rate, exacerbating the debt problems of relevant countries and leading to increased volatility in global financial markets.
Wang Wenbin also stated that the United States should take practical actions to help developing countries promote active participation of multilateral financial institutions in debt management issues, rather than introducing the geopolitical confrontation approach into multilateral financial institutions.