#worldbank #ajaybanga #IBRD #privatemarket #ida #businessnews
The World Bank approved changes to its lending guidelines on Tuesday, unlocking $30 billion in additional lending capacity over the next decade to support developing nations and emerging markets in tackling climate change and other challenges. President Ajay Banga announced that the International Bank for Reconstruction and Development (IBRD) will lower its equity-to-lending ratio by 1 percentage point to 18%, increasing its risk exposure as part of ongoing reforms requested by the G20 and key shareholders like the U.S. Banga noted that these changes, along with revised pricing policies, would boost the bank’s total lending capacity by $150 billion over the next 7 to 10 years. Additionally, the World Bank aims to replenish the International Development Association (IDA) fund for the poorest countries, targeting $120 billion, in line with proposals from African and Caribbean leaders. However, achieving this will require increased contributions from donor countries, rising from $24 billion to $30 billion, despite economic pressures from a stronger U.S. dollar and domestic fiscal challenges.
#ClimateChangeFunding #LendingReforms #GlobalDevelopment #EmergingMarkets #SustainableDevelopment #G20Reforms #IDAReplenishment #DevelopingNations #ClimateAction #EconomicSupport #GlobalFinance #InternationalDevelopment #povertyreduction
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