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Senators Press Bessent on Proposed CDFI Fund Cuts

Treasury Secretary Scott Bessent appeared before the Senate Appropriations Committee on April 22, 2026 to defend the White House's proposed FY2027 budget, which seeks to cut the Community Development Financial Institutions Fund by $204.5 million, or roughly two-thirds of its current budget. A bipartisan group of 43 senators had previously urged colleagues to set aside at least $324 million for the CDFI Fund and release funds in a timely manner. Bessent stated the remaining awards would be redirected to rural communities and said the program needed to be free of waste, fraud, and abuse.

Minister Champagne Concludes Washington Meetings Advancing Canada's Strategic Interests

Canada's Minister of Finance François-Philippe Champagne completed diplomatic meetings in Washington, D.C. on April 17, 2026, participating in G7 and G20 Finance Ministers and Central Bank Governors gatherings alongside the IMF and World Bank Spring Meetings. Key outcomes included signing an MoU on Ukraine Debt Service Suspension, a US$1 billion World Bank guarantee for Ukraine lending, and a EUR200 million EBRD guarantee for Ukraine's energy sector. The Minister also held bilateral discussions with counterparts from 12 countries including U.S. Treasury Secretary Scott Bessent, covering trade and AI technology impacts.