World Bank reforms will let the bank lend an additional $40 billion over 10 years, bank chief David Malpass said, as efforts to get the multilateral institution into shape for the modern era kick into gear.
“We will begin lending that starting in July,” Malpass said Tuesday at the Council on Foreign Relations in New York.
Still, the figure falls far below what a group of independent experts had said could be possible for the bank to lend in a report issued last year to the Group of 20, the bloc of leading economies.
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
Shabtai Gold
Shabtai Gold is a Senior Reporter based in Washington. He covers multilateral development banks, with a focus on the World Bank, along with trends in development finance. Prior to Devex, he worked for the German Press Agency, dpa, for more than a decade, with stints in Africa, Europe, and the Middle East, before relocating to Washington to cover politics and business.
