Tuesday, September 26, 2023
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Yellen: World Bank should add disaster clause to debt deal

PARIS (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday the World Bank should add a disaster clause to debt deals with poorer countries, speaking ahead of a Paris summit that will discuss How to boost low-income crisis financing Yellen told reporters in the French capital that the provisions could be part of a wider reform of the World Bank to free up more funds.

“We would also like to see the World Bank give borrowers the option to add climate adaptation debt clauses to their loan agreements. These clauses would help ease the The pressure on countries when natural disasters strike,” she said.

She said the summit’s priorities were the development of multilateral development banks, debt sustainability and the mobilization of private capital.



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