U.S. and Tibetans fails to block loan to China

  • 25/06/1999

The World Bank has overruled the United States and approved a $160 million anti-poverty loan for China. It agreed, however, to delay financing for the resettlement of 58,000 farmers in a traditionally ethnic Tibetan area until an independent review board determined whether the program met the bank's environmental and resettlement. The decision to postpone payment for that portion of the loan was in part a last minute effort by the bank's president, James Wolfensohn, to keep the United States from opposing the loan.