China ramps up multilateral development funding but still lags in voting power

According to a Center for Global Development analysis released on October 8, China’s financial support for multilateral development institutions has surged tenfold since 2010, with development-bank funding hitting US$3 billion in 2024 and a 47 percent rise in contributions to UN development bodies. Climate-finance allocations climbed to US$5.25 billion for 2025, though aid to initiatives like Gavi fell by 32 percent. The report notes that China’s voting share at the World Bank remains around 6 percent—well under the level suggested by its economic weight—while the United States retains roughly 16 percent and veto power.

Western officials have blocked proposals to adjust IMF and World Bank shareholder structures, citing concerns over transparency and consensus. China now ranks as the fifth-largest donor to the World Bank’s International Development Association, yet only 11 percent of its UN contributions are voluntary, contrasting with over 70 percent from the United States. Senior Chinese representation at multilateral banks has held steady, but the country has lost top posts at several UN agencies since 2020, including the WHO and ITU. The findings come as the IMF and World Bank convene in Bangkok next week.