Bank urged member nations on Friday to boost the funding firepower of the global lenders to help poorer countries combat poverty and climate change.and central bank governors in Marrakesh, Morocco -- the first IMF-World Bank annual meetings on African soil since 1973.
The Indian-born, naturalised US citizen warned of"growing mistrust" between developed and developing nations."The Global South's frustration is understandable. In many ways they are paying the price for the prosperity of others," he said at a plenary session. Through balance sheet changes and contributions from members, the World Bank chief says it could add more than $150 billion to its lending capacity over the next decade.
"This must drive each of us to make the next replenishment of IDA the largest of all time," the former CEO of Mastercard said.
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