"World Bank lending to China has fallen sharply and will continue to reduce as part of our agreement with all our shareholders including the United States.
"We eliminate lending as countries get richer," it said.
Trump was reiterating a position long held by his administration, including Malpass prior to his election as the current head of the World Bank.
Treasury Secretary Steven Mnuchin told US lawmakers Thursday that the United States "has objected" to the institution's multi-year program of loans and projects in China.
That program, which includes plans to reduce lending to China, was adopted on Thursday.
The program "reflects the evolution of our relationship with China," Martin Raiser, World Bank Country Director for China, said on Thursday.
"Our engagement will be increasingly selective."
Trump's very public stance comes amid negotiations between Washington and Beijing seeking to end the US president's 18-month-long trade war, which is aimed at forcing China to make concessions on protecting American businesses and reducing its trade surplus.
There is a great deal of uncertainty about the date of a possible partial agreement, which Trump said was imminent in October.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.