Key facts
- World Bank should remove constraints on natural gas and oil projects.
- US Treasury is contributing to a new Nuclear Energy Assistance Trust Fund.
- World Bank should support critical minerals mining, including deep-sea mining.
- Wealthier countries should graduate faster from World Bank borrowing.
- IMF must boost analysis of global imbalances and non-market policies.
US Treasury Secretary Scott Bessent outlined a series of demands for the World Bank and International Monetary Fund, aligning with Trump administration interests. In a statement issued late Wednesday, Bessent called for the World Bank to end its prohibition on financing upstream oil and gas projects, support deep-sea critical minerals mining, and reform its procurement policies. He also urged the IMF to intensify its analysis of global imbalances stemming from non-market policies, a veiled criticism of China. The US Treasury announced an initial contribution to a new World Bank-administered Nuclear Energy Assistance Trust Fund to aid future nuclear power investments. Bessent also advocated for wealthier nations like China and Poland to graduate faster from World Bank borrowing and for procurement reforms to foster greater competition and quality.