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U.S. Treasury Secretary Scott Bessent is pressing the World Bank to abandon its ban on upstream oil and gas financing and adopt a technology-neutral approach to expanding energy access in Africa.
US Treasury Secretary Scott Bessent has called on the World Bank Group to formally end its prohibition on financing upstream oil and gas projects, arguing that access to reliable and affordable energy is essential for economic growth, industrialisation and job creation in developing countries.
US Treasury Secretary Scott Bessent called on the World Bank to lift its ban on financing upstream oil and gas projects, saying affordable energy is key to development. Speaking at IMFWorld Bank Annual Meetings, he urged a technologyneutral approach and also announced a US contribution to a Nuclear Energy Assistance…