World Bank President David Malpass said that financing capacities still fall short of resource needs for development and climate. (Photo: AFP)
WASHINGTON: World Bank member countries have endorsed measures allowing a US$50 billion lending boost over the next decade, its outgoing president David Malpass said Wednesday.
The move, announced during the International Monetary Fund (IMF) and World Bank spring meetings in Washington, is part of an ongoing evolution of the development lender amid pushes for it to meet global challenges like climate change.
Earlier on Wednesday, United States Treasury Secretary Janet Yellen urged the World Bank to continue taking on added reform measures this year.
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