News of the 50 billion dollar plan from the World Bank
The World Bank is considering a plan to increase its lending by $50 billion over the next ten years, with changes in its rules.
According to the sources, the strategy stands out in the first phase of the bank’s plan, called the evolution roadmap.
The statement was made in response to calls by US Treasury Secretary Janet Yellen and other G20 leaders for the bank to find ways to expand its available resources to tackle challenges like climate change and epidemics.
The key to the strategy is to reduce the minimum equity-lending ratio at the International Bank for Reconstruction and Development, the World Bank’s lender arm to middle-income and low-income countries, from the current 20% to 19%. Sources reported that this institution will allow it to take more risks with its current capital.
World Bank executive directors are preparing to evaluate the plan in the coming weeks. The bank is also considering the adoption of clear goals to increase sustainability and resilience, in addition to its current mission to reduce poverty and increase well-being.
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