World Bank Increases Influence of Developing Nations in Governance

In a bid to boost the influence of the developing world within the World Bank Group, the bank's board of governors added a seat for sub-Saharan Africa, and expanded voting and capital shares. "Adding another seat for Africa, reaching developing country majority on the Board, expanding developing country shares and laying the groundwork for further reforms represent real change," World Bank President Robert Zoellick

in a statement. "I encourage shareholders to take action now on governmental approvals of the voting share changes, and to continue their efforts at further, more ambitious, reforms."