WASHINGTON, Sept 29 — The World Bank on Thursday proposed steps that would boost its lending to developing countries by an additional US$100 billion over a decade as part of an...
WASHINGTON, Sept 29 — The World Bank on Thursday proposed steps that would boost its lending to developing countries by an additional US$100 billion over a decade as part of an ongoing reform process aimed at helping the bank expand its mission to include climate change.
The report, published ahead of the October 9-15 IMF-World Bank annual meetings in Marrakech, Morocco, bears the clear imprint of new World Bank President Ajay Banga, who took office in June. In addition to the proposed steps on hybrid capital and portfolio guarantees, the bank said it was also increasing its bilateral guarantee limit to US$20 billion from US$15 billion, which would boost the lending capacity of its main lending arm, the International Bank for Reconstruction and Development , by US$5 billion over a decade.
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