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Yellen: U.S. Flexibility in Multilateral Development Banks' Energy Finance

Treasury Secretary Janet Yellen highlights the flexibility of U.S. policy on energy finance for development banks and expresses concerns over proposed funding cuts.

Janet Yellen
Janet Yellen

U.S. Policy on Energy Finance for Development Banks

Treasury Secretary Janet Yellen announced Wednesday that the U.S. policy towards multilateral development banks' energy finance is flexible. She noted that some low-income countries might qualify for financing for natural gas projects if renewable energy is not a viable option.

Concerns Over Republican Proposals to Cut Funding

Yellen expressed concern over Republican proposals to cut funding for international financial institutions. She emphasized that such funding reductions would diminish U.S. influence within these organizations.

Yellen's Remarks at House Appropriations Committee Hearing

The Treasury Secretary's remarks were made during a hearing before the State, Foreign Operations, and Related Programs subcommittee of the House Appropriations Committee.