World Bank plan to boost annual lending by $5 bln, protect credit rating

The World Bank on Thursday submitted a long-awaited "evolution road map" to its steering committee that would boost annual lending to middle-income countries to fight climate change and other global crises by about $5 billion annually while protecting the bank's top-tier credit rating.

The bank said the plan will be discussed with its Development Committee on April 12, during the World Bank-International Monetary Fund Spring Meetings, and discussions will follow on additional measures to boost lending, including to the world's poorest countries.