U.S. Treasury Secretary Urges Action on China Loans

WASHINGTON (Reuters) – U.S. Treasury Secretary Scott Bessent urged Asian Development Bank President Masato Kanda to take concrete steps towards ending loans to China, the Treasury said on Friday.

During a bilateral meeting, Bessent emphasized the need for an “all-of-the-above energy strategy” and exchanged views with Kanda on financing civilian nuclear energy.

The Treasury stated, “Secretary Bessent urged President Kanda to take concrete steps towards putting China on a clear path to graduation from ADB borrowing and emphasized the value of the Bank’s work on procurement practices based on best value.”