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A Local Culinary Adventure: inspired by Halifax's Seaport Market | SaltWire #cooking #cookingtipsMARRAKECH, Morocco - The U.S. Treasury Department is pushing the World Bank and regional multilateral development banks to complete work on new rules for leveraging shareholder capital commitments to boost lending capacity by April 2024, a senior Treasury official said.
Some experts argue that developing and emerging economies need $2.4 trillion per year to meet global climate challenges - a number that far exceeds the amount of financing now available. The official said Treasury has already drafted terms of reference on callable capital for the World Bank and regional MDBs, and is asking the institutions to set up working groups and carry out stress tests to tee up decisions on the issue in spring 2024, the official told Reuters in an interview.
Any new proposal on treatment of callable capital will require approval by the shareholders of each of the respective multilateral development banks, bank officials have said.
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