Bessent Calls for World Bank Reforms, Including Upstream Oil and Gas Financing
9 Articles
9 Articles
Washington calls on the World Bank to finance oil and gas exploration, nuclear power financing and deep-sea mining, and to accelerate the moratorium on lending to China and Poland, while calling on the Monetary Fund to monitor global imbalances and exchange rates.
Bessent urges World Bank to end restrictions on upstream oil, gas financing
US Treasury Secretary Scott Bessent urged the World Bank to ease restrictions on oil and gas financing, support deep-sea mining, and reform procurement policies. He also advocated nuclear energy investments and stronger IMF scrutiny of global economic imbalances, reflecting the Trump administration’s push to reshape multilateral institutions around American priorities.
Bessent calls for World Bank reforms, including upstream oil and gas financing
BANGKOK, Oct 15 (Reuters) - US Treasury Secretary Scott Bessent issued a long list of demands for the World Bank in line with Trump administration interests, including ending the bank's prohibition on financing upstream oil and gas projects, putting r...
The U.S. government is calling for far-reaching changes in the World Bank's financing and operating policies, with Treasury Secretary Scott Bessent advocating lifting restrictions on financing oil and gas projects, boosting investment in critical minerals, and revising the agency's procurement rules.At the same time, the U.S. Minister calls on the International Monetary Fund (IMF) to step up scrutiny of economic policies that, according to Washi…
"The Bank should promote procurement reforms that will lead to greater competition and higher quality."
USA calls on the World Bank to give up the ban on financing oil and gas extraction projects; Scott Bessent: Energy Abundance Generates Economic Prosperity
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