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MARRAKESH, Morocco —The World Bank could raise its lending capacity by $150 billion in the next decade, but it will need to become “bigger” to respond to global challenges, its president said Wednesday.
Banga said challenges including poverty, pandemics and climate change were “almost like a perfect storm” that can no longer be treated separately. “It’s a substantial number, but it’s not going to be enough for the kinds of challenges the world has,” he said at a press conference.He cited an independent expert group commissioned by the G20, which recommended the tripling of financing of multilateral development banks.
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