China nearly doubled its contribution to the International Development Association, a fund of the World Bank that makes low-interest loans and grants to the poorest countries, Bloomberg reported, citing a report published on Thursday by the bank. China’s grant increased to about US$300 million from US$161 million in the previous round. Part of the contribution will be used to support an additional low-interest, US$1 billion loan to the fund. The grant highlights the country’s efforts to gain influence at international financial institutions such as the Washington-based World Bank and the International Monetary Fund.
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