World Bank maps out plans to further boost lending by $100 bln-plus over a decade


Reuters | Washington DC | Updated: 29-09-2023 02:11 IST | Created: 29-09-2023 02:07 IST
World Bank maps out plans to further boost lending by $100 bln-plus over a decade
Representative Image Image Credit: ANI
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The World Bank on Thursday proposed steps that would boost its lending to developing countries by an additional $100 billion over a decade as part of an ongoing reform process aimed at helping the bank expand its mission to include climate change. In a 24-page report to the joint ministerial committee that oversees the bank and the International Monetary Fund, the bank's management said it would ask shareholders to approve a hybrid capital measure and a new portfolio guarantee platform that together could boost lending by over $100 billion.

That amount would come on top of measures already being implemented that will boost the bank's lending to developing countries by up to $50 billion.

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