The Asian Development Bank will keep lending billions of dollars to China, taking a different stance from the World Bank and its plans to reduce loans to the world's second-biggest economy, the ADB chief said.
"We don't intend to significantly cut the amount of lending to China," ADB President Takehiko Nakao said during an interview with media outlets in Tokyo on Monday. "We will keep the current level (to finance projects) related to climate change and those that will positively affect neighboring countries."
Last year China borrowed about $2.6 billion from the Japan-backed ADB, the Manila-based development bank, making it the second-biggest borrower after India. Yet China is now a major economy and has also been reportedly lending billions of dollars to other developing countries for its "Belt and Road" initiative.