US EditionUS seeks to weaken global development finance efforts, UN document shows
- World leaders are negotiating a global development finance deal in Seville, Spain, aiming to adopt it by mid-June 2025 through consensus among 193 countries.
- The United States, wielding significant influence as World Bank and IMF's largest shareholder, is pushing to weaken the deal by removing references to climate, gender equality, and sustainability.
- The draft deal addresses helping developing countries cope with climate impacts, tax cooperation, reforming financial systems, and phasing out fossil fuel subsidies amid opposition from the US, Russia, China, and Saudi Arabia.
- Tom Mitchell emphasized that the conference aims to establish key priorities for development finance in the coming decade, while UN Secretary-General António Guterres called for the participation of all nations in Sevilla to collaboratively address challenges.
- The US stance signals tougher development policies under Trump, potentially diluting reforms meant to aid poorer nations' resilience and sustainable growth amid ongoing negotiations likely to alter the draft further.
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Exclusive: US seeks to weaken global development finance efforts, UN document shows
The Trump administration opposes draft reforms of the world's financial system intended to help developing countries, including around taxation, credit ratings and fossil fuel subsidies.
·United Kingdom
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US seeks to weaken global development finance efforts, UN document shows
BRUSSELS/LONDON: The United States is seeking to weaken a global deal aimed at helping developing countries struggling with the impacts of climate change and other issues, an internal United Nations document seen by Reuters showed. The Trump administration opposes draft reforms of the world's financial sys
·Singapore
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