G20 promises greater funding for World Bank

US-led effort could unlock $200 billion of funding capacity, if countries follow through on pledges

World Bank, Washington, DC
World Bank, Washington, DC

The Group of Twenty is working on steps to increase the financial firepower of the World Bank, which could help the multilateral lender increase funding to tackle urgent issues such as climate change.

Following the G20 summit on September 9 and 10, countries said they were “exploring options” that will “deliver a powerful boost to IBRD headroom”. The International Bank for Reconstruction and Development is the main lending arm of the World Bank Group.

G20 countries added they were looking for

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