Let’s begin with the fact that, it seems, there is no possibility of a near-term capital increase.
zielen also said, she expected U.S. nominee RJ Bangar to lead the World Bank to election as its next leader with no challenges emerging as the nomination period closed yet and told U.S. lawmakers that, she wants World Bank reforms to vastly expand lending to fight climate change and other global crises largely by stretching the bank’s existing resources, adopting innovative financial policies, and mobilising private finance.
A capital increase was among the proposals the World Bank made in January. It would not be possible now without the support of the U.S., the World Bank’s dominant shareholder, to select the leader they proposed.
A capital increase was made when the World Bank unveiled an evolution road map to meet the challenge that Yellin laid out last year to expand its mission.
Beyond country-specific development projects, loans to tackle the global crisis But a capital increase would require billions of dollars in US contributions to keep a stake in the bank, contrary to demands from House Republicans for spending cuts in exchange for an increase in the US federal debt ceiling.The World Bank’s latest capital increase of 13 billion was approved by member countries in 2018.
