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.
The World Bank Group logo is seen on the building of the Washington-based global development lender in Washington on Jan. 17, 2019. World Bank current President Jim Yong Kim announced on January 7, 2019, that he would cut short his tenure as president more than three years before his second term was to end. The World Bank Board said it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April 2019.
Banga said challenges including poverty, pandemics and climate change were "almost like a perfect storm" that can no longer be treated separately. "The G20 expert group has put out its own thinking on that. That has not yet been accepted by the G20," Banga said. The conflict between Israel and Hamas militants is making a global impact with Britain, Canada, France and Germany among nations...Twenty-nine people were killed and dozens wounded in a military strike on a camp for displaced people in northern Myanmar,...
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