World Bank to double its lending to developing nations

As part of its efforts to end extreme poverty by 2030, the World Bank Group declared that it will almost double yearly lending capacity to emerging nations like Brazil, China, India, etc. from USD 15 billion to USD 28 billion. In next decade, the WB it would be increasing its lending capacity by USD 100 billion to USD 300 billion for middle income nations.

IBRD  (International Bank for Reconstruction and Development) has increased its single borrower limit by $2.5 billion for Brazil, China, Indonesia, India, and Mexico.

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Categories: Banking Current Affairs 2017International Current Affairs 2017

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