13 Hrs
Source:
AL24 News
US Push for World Bank Oil Funding
U.S. Treasury Secretary Scott Bessent emphasized in his message to the World Bank and the International Monetary Fund the necessity of ending the ban on financing oil and gas projects and redirecting resources toward mining vital minerals from the deep seabed. He also called for adopting a "technology-neutral" approach in the energy sector and lifting restrictions on fossil fuel projects, while announcing an American contribution to a fund supporting nuclear energy investments. Additionally, Bessent urged the IMF to address the policies of certain countries, especially China, which disrupt market rules and cause trade imbalances, with the aim of accelerating the exclusion of the wealthiest economies from the list of eligible borrowing nations.
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