Advanced economies pledge $11B

By Agence France-Presse

Apr 21, 2024 12:11 am

WASHINGTON, D.C.: A group of advanced economies have pledged $11 billion in new funding commitments to boost the World Bank's lending capacity by up to $70 billion over a decade, the development lender announced Friday.

The 11 countries — including the United States, Germany and Japan — committed the funds to three lending instruments designed to increase capacity and allow the World Bank to take on 'more risk for shared global challenges,' the bank said in a statement.

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