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US stalls development finance, finds UN report
Financial Express Lucknow
|May 06, 2025
THE US IS seeking to weaken a global deal aimed at helping developing countries struggling with the impacts of climate change and other issues, an internal United Nations document seen by Reuters showed.
The Trump administration opposes draft reforms of the world's financial system intended to help developing countries, including around taxation, credit ratings and fossil fuel subsidies.
It also wants mentions of "climate," "gender equality" and "sustainability" stripped out.
The previously unreported document sheds light on how the Trump administration is seeking to imprint an "America First" agenda, including opposition to efforts to slow climate change and promote diversity, on the institutions at the heart of fixing global systemic crises.
This story is from the May 06, 2025 edition of Financial Express Lucknow.
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