2023-08-22 16:57:48
(Washington) Joe Biden will plead to strengthen the financing capacities of the International Monetary Fund and the World Bank at the next G20 summit in India, his national security adviser, Jake Sullivan, said on Tuesday.
During this meeting, which will be held on September 9 and 10, the American president wants “really to devote a lot of his energy to the modernization of the multilateral development banks, including the World Bank and the IMF”, he assured during an exchange with the press
“Given the scale (of financing needs) and, to put it bluntly, of the burdensome and unsustainable loans that China is making through the ‘Belt Roads’, we have to make sure that there are solutions with high standards of quality and principles” for developing countries, said Jake Sullivan.
“One of the ways to get our money’s worth is through the World Bank and the IMF,” added the adviser. He estimated that the US proposals for these two institutions would unlock “about $50 billion in loans for middle-income and poor countries from the United States alone”, and expected “our allies and partners also contribute”, which would bring the amount of financing available to 200 billion dollars.
Jake Sullivan considered that the two institutions in Washington, in fact dominated by the Americans and the Europeans, were “not Western institutions”, but “a positive alternative to the much more opaque, much more constraining method” of the China to finance development projects.
Joe Biden’s adviser, however, assured that the “support (of the United States) for the World Bank and the IMF was not (was) directed against China. »
The White House has chosen to communicate on its ambitions for the two major institutions when the BRICS summit opens in South Africa, with on the agenda a program to expand this bloc of major emerging countries. , seeking greater international influence.
“We don’t think the Brics are going to become some sort of geopolitical rival for the United States or anyone else,” said Joe Biden’s adviser.
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