Treasury Secretary Scott Bessent said the U.S. remains committed to playing a leadership role in the IMF and World Bank but wants to see changes.

U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

Treasury Secretary Scott Bessent called for a course correction for the International Monetary Fund and World Bank, while saying they serve “critical roles” and the Trump administration is willing to work with them.