NADI, Fiji -- The Asian Development Bank is starting to discuss raising interest rates on financing to countries such as China that have reached a certain income level, President Takehiko Nakao told Nikkei on Thursday.
Nakao spoke here at an annual meeting of the institution's board of governors. The issue of aid to China had been expected to come up at the event as Japan and the U.S. -- the ADB's top two shareholders -- push to change international lenders' approach to Beijing. The country is wealthy enough that it should not be able to keep borrowing like a developing economy, especially now that it is a major lender in its own right, the argument goes.
