{"id":1676180,"date":"2022-10-06T12:56:50","date_gmt":"2022-10-06T16:56:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1676180"},"modified":"2022-10-06T12:57:57","modified_gmt":"2022-10-06T16:57:57","slug":"yellen-to-announce-first-1-billion-treasury-loan-for-multilateral-clean-technology-fund","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-to-announce-first-1-billion-treasury-loan-for-multilateral-clean-technology-fund\/","title":{"rendered":"Yellen to announce first $1 billion Treasury loan for multilateral Clean Technology Fund"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyellen-to-announce-first-1-billion-treasury-loan-for-multilateral-clean-technology-fund%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1676180&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Andrea Shalal<\/p>\n<p>WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen announced a $950 million loan to the Clean Technology Fund (CTF), a multilateral trust that helps developing countries accelerate their transition from fossil fuels to clean energy.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The contribution, the first of its kind from the U.S. Treasury, makes good on a U.S. pledge made at the 2021 Group of Seven summit alongside other G7 countries, Treasury said.<\/p>\n<p>\u201cWe are committed to a net zero economy by 2050,\u201d Yellen said in a speech at the Center for Global Development, calling climate change \u201can existential threat to our planet.\u201d<\/p>\n<p>\u201cWe must also help developing countries transition their economies away from carbon-intensive energy sources and expand access to clean energy,\u201d she said, adding that the Biden administration remained committed to boosting international climate financing to over $11 billion by 2024.<\/p>\n<p>In a statement, Treasury Assistant Secretary for International Trade Alexia Latortue called the loan a \u201cstrong down payment\u201d on President Joe Biden\u2019s G7 pledge and said it reflected continued U.S. support for emerging market countries as they transitioned away from fossil fuels.<\/p>\n<p>The loan will be used to support U.S. climate commitments, including Just Energy Transition Partnerships (JETPs), while funding CTF projects developed by multilateral development banks in alignment with South Africa, Indonesia, India, and the Philippines as they accelerate their shift away from coal.<\/p>\n<p>The U.S. money could fund installation of new renewable energy equipment, retirement of older coal plants and various support programs that promote new investment and employment in communities affected by energy transition, Treasury said.<\/p>\n<p>Yellen, who also called for reforms of the multilateral development banks, spoke ahead of next week\u2019s annual meetings of the World Bank and International Monetary Fund.<\/p>\n<p>South Africa, India, Indonesia and the Philippines last year became the first recipients of the Accelerating Coal Transition (ACT) program developed by the CTF. <\/p>\n<p>The four countries account for 15% of global emissions related to coal, the dirtiest fossil fuel. Cutting their emissions more quickly will help the global effort for net zero carbon emissions by 2050.<\/p>\n<p>The CTF is one of two multi-donor trust funds set up under the Climate Investment Funds (CIF), an initiative created by the world\u2019s biggest economies in 2008 to help poorer countries shift more quickly to a low-carbon economy.<\/p>\n<p>\u201cWith this new contribution, the United States is helping create new jobs, new sustainable markets while reducing emissions, and by doing so, securing our shared climate future,\u201d CIF CEO Mafalda Duarte said in a statement.<\/p>\n<p> (Reporting by Andrea Shalal; Editing by Kim Coghill and Andrea Ricci)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/yellen-to-announce-first\/attachment\/a-view-of-duke-energys-marshall-power-plant-in-sherrills\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI950J5-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI950J5-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/yellen-to-announce-first\/attachment\/u-s-treasury-secretary-janet-yellen-holds-a-news-conference-at\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI950IY-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI950IY-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen announced a $950 million loan to the Clean Technology Fund (CTF), a multilateral trust that helps developing countries accelerate their<\/p>\n","protected":false},"author":66,"featured_media":1889528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1676180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/yellen-to-announce-first\/?utm_source=rss&utm_medium=rss&utm_campaign=yellen-to-announce-first","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1676180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1676180"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1676180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889528"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1676180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1676180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1676180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}