World Bank Proposes Significant Expansion in Lending to Developing Countries

The World Bank has outlined a comprehensive strategy to augment its lending capacity to developing nations by an additional $100 billion over the next decade. This initiative is part of a broader reform effort aimed at expanding the bank's mission to encompass climate change mitigation.

In a recent 24-page report submitted to the joint ministerial committee overseeing the bank and the International Monetary Fund, the World Bank's management proposed a hybrid capital measure and a new portfolio guarantee platform. These measures, if approved by shareholders, could collectively enhance lending by over $100 billion. This proposed increase would complement existing measures that are expected to boost the bank's lending to developing countries by up to $50 billion.

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