NewzUnited States Treasury Secretary Scott Bessent has formally called for the World Bank to lift existing restrictions on financing for oil and gas projects. The proposal is part of a broader push by the U.S. government for a comprehensive overhaul of the institution's energy policies, signaling a shift in the American stance on international development funding for fossil fuel initiatives.
This policy shift aims to alter how the World Bank allocates capital toward global energy infrastructure. By advocating for the removal of these financing barriers, the Treasury Department seeks to expand the scope of projects eligible for institutional support, potentially impacting global energy investment trends and the World Bank's long-term development strategy.
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