[Congressional Record Volume 165, Number 194 (Thursday, December 5, 2019)]
[Senate]
[Page S6863]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               WORLD BANK

  Mr. GRASSLEY. Madam President, I believe I have developed a 
reputation among my colleagues, and hopefully among my constituents, 
for transparency in the issue of the public's business should be 
public. That applies to how the World Bank loans U.S. dollars. The 
World Bank is right now trying to sneak through a new policy that 
offends me.
  I received word that the World Bank is planning to vote right now, as 
I speak, on a new country partnership framework with China. That 
framework commits the World Bank to providing China with billions of 
dollars in loans indefinitely. What is odd about this is that China is 
now the world's second largest economy and its per capita income is 
well above the levels at which countries are supposed to graduate from 
needing World Bank assistance. In other words, China should stand on 
their own two feet without help from the American taxpayers or even 
indirectly through the World Bank.
  It happens that our country is the World Bank's largest contributor, 
and the spending bill that funds the World Bank includes a provision 
for a big capital increase from the American taxpayers to the World 
Bank. With this legislation pending, we in the Congress have an 
opportunity to weigh in and we should take that opportunity to make 
sure that American taxpayer dollars don't go to China, particularly 
when China is taking their own money and investing in the Belt and Road 
Initiative to get influence around several countries on the face of the 
Earth.
  I will have more to say later on this topic.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Madam President, I ask unanimous consent that the 
order for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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