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The World Bank decides to increase its capital

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The World Bank decides to increase its capital

Post  RamblerNash on Sun Apr 22, 2018 1:12 pm

The World Bank decides to increase its capital

22-04-2018 12:33 PM

The World Bank's World Bank Press Office announced that the World Bank's member countries had decided to raise the bank's capital by $ 13 billion.

The bank said it would send 7.5 billion to the International Bank for Reconstruction and Development (IBRD) and the remaining 5.5 billion to the International Finance Corporation (IFC).

"As a result of this capital increase, the total financial resources of the World Bank Group are expected to reach an average annual volume of approximately $ 100 billion in 2019-2030," the report said.

The agreements were reached during the group's regular meeting in Washington, April 16-22.


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