The United States on Monday welcomed plans by the World Bank to boost its annual lending by $5 billion to address global challenges including climate change over the next 10 years, but said it was pushing for more ambitious changes soon.
during their twice yearly meetings next week, while calling for the bank's management to outline firm plans for further reforms.to take bolder action to increase funding to help developing countries address climate change, future pandemics and other global challenges.
The Biden administration sees the bank's "evolution road map" as an "initial down payment on a series of important reforms," but wants further reforms implemented as possible instead of waiting for the bank's governors to meet in October, the official said. Karim El Aynaoui, executive president of Moroccan think tank the Policy Center for the New South, said reforms of the World Bank and other multilateral development banks were long overdue and changes were needed to give greater voice to African countries and other developing nations.
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