US Treasury Secretary Janet Yellen and German Minister for Economic Cooperation and Development Svenja Schulze have discussed the necessity of reforms at the World Bank ahead of the organization's meetings scheduled to take place later this year, the Treasury Department said on Monday
WASHINGTON (Pakistan Point News / Sputnik - 20th March, 2023) US Treasury Secretary Janet Yellen and German Minister for Economic Cooperation and Development Svenja Schulze have discussed the necessity of reforms at the World Bank ahead of the organization's meetings scheduled to take place later this year, the Treasury Department said on Monday.
"(Yellen) called for a strong set of initial evolution reforms for the World Bank Group at the upcoming Spring Meetings, with further reforms to be defined and implemented in the lead up to the October Annual Meetings," the Treasury Department said in a statement.
Yellen and Schulze discussed the importance of evolving multilateral development banks to better address global challenges like climate change, pandemics, fragility and conflict, the statement added.
During the meeting, Yellen thanked Schulze for Germany's support of the United States' candidate for the position of president of the World Bank, according to the statement.
