Yellen: US policy for multilateral development banks energy finance is flexible

Yellen also said she was concerned by Republican proposals to cut back funding for international financial institutions. Such funding cuts would reduce U.S. influence in these institutions, she said. Yellen made the remarks in a hearing before the State, Foreign Operations, and Related Programs subcommittee of the House Appropriations Committee.

Treasury Secretary Janet Yellen on Wednesday said U.S. policy towards multilateral development banks' energy finance is flexible and that some low-income countries may qualify for financing for natural gas projects if renewable energy is not feasible. Yellen also said she was concerned by Republican proposals to cut back funding for international financial institutions. Such funding cuts would reduce U.S. influence in these institutions, she said.

Yellen made the remarks in a hearing before the State, Foreign Operations, and Related Programs subcommittee of the House Appropriations Committee.