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World Bank chief calls for transparency in China's foreign lending

Malpass says greater openness is crucial to avoid debt traps

World Bank President David Malpass wants China to become a full member in the Paris Club of creditor nations to improve data sharing. (Photo by Shinya Sawai)

FUKUOKA, Japan -- The World Bank is "working hard" to ensure China improves transparency in lending to developing countries, the multilateral organization's newly seated leader told Nikkei in an interview.

"Debt transparency is important for borrowing countries to connect the debt to good projects, including quality infrastructure," said World Bank President David Malpass, who began his five-year term in April. "It is necessary to involve not only China but also many other countries."

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