March 21, 2023

World Bank Group to expand lending capacity on climate change and other crises

The lending group is seeking to vastly expand its lending capacity to address climate change and other global crises.

The global lender announced its intent to negotiate with shareholders ahead of the April meetings on proposals that include a capital increase and new lending tools, according to an “evolution roadmap”. Said roadmap was sent to shareholder governments and marks the start of a negotiation process to alter the bank’s mission and financial resources and shift it away from a country- and project-specific lending model used since its creation at the end of World War Two.