US Treasury Secretary Janet Yellen Calls on World Bank to Undertake Additional Reforms

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US Treasury Secretary Janet Yellen will call today for the World Bank to make further reforms this year, which would expand its ability to assist developing countries in meeting global issues such as climate change.

During a meeting with global financial officials, Yellen will discuss the continued evolution of the World Bank and other multilateral development banks, so that they can help those countries deal with climate change and other global issues, while still reducing extreme poverty.

Yellen’s remarks emphasize that the Bank’s mission is to end extreme poverty, boost shared prosperity, and build resilience, and that these goals are all interconnected.

Furthermore, Yellen pointed out that she had seen first-hand, during her visit to Zambia, how climate change can decrease agricultural yields, as well as how threats to global health can disrupt entire societies and economies, and how fragility and conflict can cause significant displacement and migrant flows.