The United States on Monday welcomed plans by the World Bank to boost annual lending by $5 billion to middle-income countries to fight climate change and other global crises over 10 years, but said it was pushing for more ambitious changes soon.
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.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria, U.S., Mexico Top List of Leaders in Global Reduction of Gas Flaring - World BankNigeria, Mexico, and the United States of America accounted for most of the decline in global gas flaring in 2022, new satellite data compiled by the World Bank's Global Gas Flaring Reduction Partnership (GGFR), has revealed.
Read more »
Zimbabwe Ranked the World's Fourth Unhappiest Country in the WorldZimbabwe has been ranked in position 134 out of 137 nations according to the latest World Happiness Report.
Read more »
DA congress adopts resolution to protect SA Reserve Bank's independenceThe DA said it rejects threats to erode the independence of the central bank through nationalisation.
Read more »
DA passes resolution to protect Reserve Bank independence amid worries about fiscus being drained | News24Having reformulated its policies in 2020, the Democratic Alliance on Sunday consolidated the party’s policy position ahead of the 2024 national elections. | JKwritingz
Read more »
DA resolves to protect the Reserve Bank's independenceThe DA says the independence of the Reserve Bank must be protected. Any move by the ANC and EFF to nationalise and change its mandate must be rejected, the party resolved at its congress.
Read more »
DA resolves to protect the Reserve Bank's independenceDA resolves to protect the Reserve Bank's independence: The DA says the independence of the Reserve Bank must be protected. Any move by the ANC and EFF to nationalise and change its mandate must be rejected, the party resolved at its congress.
Read more »