World Bank says shareholders endorse capital increase

ByNews Videos

Apr 21, 2018 #Asia / Pacific, #Central Banks / Central Bank Events, #China (PRC), #Currency Intervention, #Debt / Fixed Income Markets, #Economic News (3rd Party), #European Union, #G20, #IMF, #Interest Rates / Policy, #International Monetary Fund, #Major News, #Monetary / Fiscal Policy / Policy Makers, #National Government Debt, #South America / Central America, #united states, #US, #WBANK, #Western Europe, #world bank

[ad_1]

WASHINGTON (Reuters) – The World Bank said on Saturday its shareholders had endorsed a $13 billion paid-in capital increase, a series of internal reforms and a set of policy measures to strengthen the international lender’s capabilities.

World Bank President Jim Yong Kim attends the Development Committee meeting during the IMF/World Bank spring meeting in Washington, U.S., April 21, 2018. REUTERS/Yuri Gripas

The package agreed to consists of $7.5 billion paid-in capital for the International Bank for Reconstruction and Development and $5.5 billion paid-in capital for the International Finance Corporation, through both general and selective capital increases, as well as a $52.6 billion callable capital increase for IBRD, the World Bank said in a statement.

Reporting by David Lawder; Editing by Paul Simao

[ad_2]

Source link