{"id":4597,"date":"2024-04-19T18:16:04","date_gmt":"2024-04-19T18:16:04","guid":{"rendered":"https:\/\/internationalpulse.net\/?p=4597"},"modified":"2024-04-19T18:16:04","modified_gmt":"2024-04-19T18:16:04","slug":"advanced-economies-pledge-11-bn-to-boost-world-bank-lending","status":"publish","type":"post","link":"https:\/\/internationalpulse.net\/?p=4597","title":{"rendered":"Advanced economies pledge $11 bn to boost World Bank lending"},"content":{"rendered":"

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Image: – \u00a9AFP Wakil KOHSAR<\/small><\/em><\/p>\n

A group of advanced economies have pledged $11 billion in new funding commitments to boost the World Bank\u2019s lending capacity by up to $70 billion over a decade, the development lender announced Friday.<\/p>\n

The 11 countries \u2014 including the United States, Germany and Japan \u2014 committed the funds to three lending instruments designed to increase capacity and allow the World Bank to take on \u201cmore risk for shared global challenges,\u201d the bank said in a statement.<\/p>\n

By leveraging the resources pledged, the bank should be able to provide up to $70 billion in new lending over a 10-year period.<\/p>\n

\u201cWe worked hard to develop these new financial instruments that boost our lending capacity, multiply donor funds, and ultimately allow us to improve the lives of more people,\u201d World Bank president Ajay Banga said in a statement.\u00a0<\/p>\n

He added that the new commitments were \u201cboth an endorsement of the progress we have made to reform the bank, and a sign of their shared commitment to development globally.\u201d<\/p>\n

The bank has previously estimated that developing countries will need an average of $2.4 trillion each year between now and 2030 in order to address the \u201cglobal challenges of climate change, conflict, and pandemics.\u201d<\/p>\n<\/p><\/div>\n

Advanced economies pledge $11 bn to boost World Bank lending
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#Advanced #economies #pledge #boost #World #Bank #lending<\/p>\n","protected":false},"excerpt":{"rendered":"

Image: – \u00a9AFP Wakil KOHSAR A group of advanced economies have pledged $11 billion in…<\/p>\n","protected":false},"author":1,"featured_media":4598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[2739,78,909,2740,2742,2741,420],"yoast_head":"\nAdvanced economies pledge $11 bn to boost World Bank lending - International Pulse<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/internationalpulse.net\/?p=4597\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advanced economies pledge $11 bn to boost World Bank lending - International Pulse\" \/>\n<meta property=\"og:description\" content=\"Image: – \u00a9AFP Wakil KOHSAR A group of advanced economies have pledged $11 billion in...\" \/>\n<meta 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