WB to double lending to emerging economies

WASHINGTON, Apr 1: The World Bank plans to nearly double its annual lending to emerging economies like China and India as part of its effort to eliminate extreme poverty by 2030. The Bank announced Tuesday that it would add $100 billion to its lending capacity for middle-income countries over the next 10 years. That would allow it to expand its lending to those countries from $15 billion to as much as $28 billion each year. The move follows in the wake of the bank's raising $52 billion in resources for the poorest countries announced in December. The new expansion is for the International Bank for Reconstruction and Development, the World Bank's arm for working with emerging economies.
    — AFP