FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual MeetingFILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meetingto middle-income countries to fight climate change and other global crises over 10 years, but said it was pushing for more ambitious changes soon.
The United States, the bank’s largest shareholder, has been pressing the World Bank for months to take bolder action to increase funding to help developing countries address climate change, future pandemics and other global challenges. “We need to keep up the ambition. There is still so much more to do,” the official said, adding that the United States was pressing the bank to map out concrete additional reforms, along with a timeline for implementation.sees the bank’s “evolution road map” as an “initial down payment on a series of important reforms,” but wants further reforms implemented as possible instead of waiting for the bank’s governors to meet in October, the official said.
The plans to be endorsed next week will boost the lending capacity of the Bank for International Reconstruction and Development, its middle-income lending armThe lion’s share of that comes through a one-percentage point reduction in the bank’s equity-to-lending ratio to 19%, moves toward issuance of hybrid capital, bilateral shareholder guarantees and adjustments in its statutory lending agreement.
Don't take it, just want to make us more indebted with their never ending printing money in the name of climate change.