House Select Committee Call For World Bank Over $25 Million Funding to Sanctioned Chinese Companies

Indiana Rep. Jim Banks, along with the Republican members of the House Select Committee, called for an explanation of World Bank funding $25 million to sanctioned Chinese companies. Reports say a letter was sent to the Executive Director of the World Bank and the U.S. Treasury Secretary.

On August 31, Indiana Rep. Jim Banks, along with a group of Republican members of the House Select Committee on Strategic Competition between the United States and the Chinese Communist Party sent a letter to Adriana Kugler, the Executive Director of the World Bank, and U.S. Department of the Treasury Secretary Janet Yellen.

According to Rodgers, the letter from the Republicans of the House Select Committee called for an explanation over the World Bank funding $25 million to Chinese companies that are on the sanctions lists of the U.S. for abusing human and military rights.

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House Select Committee’s Demands

The article in The Daily Caller also stated that the Republicans of the House Select Committee also called for an explanation about China receiving 30% of the World Bank contract funding for more than 10 years. This suggests that the lawmakers also demand whether the World Bank must change its process of procurement. To date, the administration of U.S. President Joe Biden announced that Yellen is acting upon a response to the letter.

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