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.
LATEST: US Treasury Secretary Yellen warns that cuts in funding for international financial institutions would significantly reduce the US' influence in these institutions.
— Paryte (@Parytecom) March 29, 2023
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.
