World bank proposes $100B boost for developing nations

A general view of the World Bank headquarters, in Washington DC, on November 17, 2020. The bank on Monday announced it had approved additional funding to support low-income households in Jordan. (Phot
World Bank. (File photo: Jordan News)
AMMAN — On Thursday, the World Bank proposed a series of steps aimed at increasing lending to developing countries by $100 billion over a period of ten years. This proposal is part of an ongoing reform effort designed to assist the bank in expanding its mission to address climate change.اضافة اعلان

In a 24-page report submitted to the Joint Ministerial Committee overseeing both the International Monetary Fund (IMF) and the World Bank, the bank's management outlined its intention to seek shareholder approval for measures that could potentially elevate lending by more than $100 billion, Al Mamlaka TV reported. 

This additional funding is in addition to measures that are already being put into action, with the goal of augmenting the bank's lending capacity to developing nations by up to $50 billion.

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