The World Bank gave over $25 million in 2021 to Chinese government- and military-linked companies on sanction lists in the United States, according to a federal watchdog.
At least five Chinese companies that have appeared on sanction lists from the Treasury Department's Office of Foreign Assets and Control were steered contracts from World Bank borrowers from 2020 to 2021, the U.S. Government Accountability Office said in a Wednesday report, which found that Chinese entities scored $21 billion from 2013 to 2022."Businesses in the U.S.
Ajay Banga, vice chairman of the private equity firm General Atlantic and former Mastercard CEO, will be the World Bank's next president. In sanctioning the paramilitary group in 2020, the Treasury Department said it had been linked to"serious human rights abuse against ethnic minorities in Xinjiang, which reportedly include mass arbitrary detention and severe physical abuse, among other serious abuses targeting Uyghurs, a Turkic Muslim population indigenous to Xinjiang, and other ethnic minorities in the region."
The China Communications Construction Company Limited, which is an engineering and construction company that is majority-state owned by China's government, pocketed $6.8 million in 2021 from a World Bank borrower, according to the GAO report.
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