As the World Bank’s management pushes through reforms that it claims will make the organization leaner and more efficient, they are also moving toward a new financial and risk model that will allow the bank to lend about 70 to 80 percent more to borrowing countries each year — without seeking more capital from donor countries.
The change will immediately benefit countries like Brazil, China and India, each of which will be able to borrow up to $2.5 billion more annually, Bertrand Badre, the bank’s chief financial officer, recently told reporters.
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About the author
Paul Stephens
Paul Stephens is a Devex staff writer based in Washington, D.C. His coverage focuses on Latin America and World Bank affairs, as well as Washington's global development scene. As a multimedia journalist, editor and producer, Paul has contributed to the Los Angeles Times, Washington Monthly, CBS Evening News, GlobalPost and the United Nations magazine, among other outlets. He's won a grant from the Pulitzer Center on Crisis Reporting for a 5-month, in-depth reporting project in Yemen after two stints in Georgia - one as a Peace Corps volunteer and another as a communications coordinator for the U.S. Agency for International Development.
