THE UNITED STATES TREASURY IS CALLING FOR WORLD BANK REFORMS

Treasury Secretary Scott Bessent sent the statement on 14 October. He said the World Bank should stop giving new loans to China and Poland because those countries are rich enough to borrow on their own. He also said the Bank should drop its ban on financing oil and gas drilling and production. The US is putting money into a new World Bank fund for nuclear power projects. Bessent wants the Bank to help with mining critical minerals, including on the sea floor, and to change its buying rules so projects do not favor government subsidies.

https://www.reuters.com/world/china/bessent-calls-world-bank-reforms-including-upstream-oil-gas-financing-2026-10-15/

https://home.treasury.gov/news/press-releases/sb0659

Got a news tip or correction? Let us know

If you got something out of this, please chip in to keep this site running, or subscribe to go ad-free.

1 view