World Bank increases lending capability by $11 billion through the introduction of innovative financing mechanisms

Multilateral development banks have recently made announcements about their plans to deliver greater impact and scale for clients in response to global crises. This includes an increase in the World Bank’s capacity to address issues such as climate change, with countries pledging $11 billion towards this effort.

At the conclusion of the IMF and World Bank’s spring meetings, leaders from 10 multilateral development banks have committed to strengthening collaboration. They aim to boost joint action on climate change, mobilize more private capital, and improve the measurement of impact to accelerate progress towards the sustainable development goals.

In a statement, the MDBs expressed their commitment to evolving into a larger, more effective platform both individually and collectively. They are focused on enhancing their efforts to better serve their clients and address key global challenges.

To gain access to more in-depth coverage across key markets, comments from financial leaders and policymakers worldwide, as well as regional/country bank rankings and awards, you can join our community and activate your free trial.