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.