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    World Bank mulls capital increase, climate focus in new reform plan

    The World Bank has presented a roadmap for its evolution to shareholders, which includes options for a capital increase and ways to expand lending to middle-income countries while supporting more climate change and health initiatives.

    By Shabtai Gold // 03 January 2023

    The World Bank is weighing a potential one-time capital increase, along with the ambitious idea that donor nations create a new concessional lending fund to address severe development challenges across all its client countries, according to a reform roadmap sent to shareholders.

    The goal is to accelerate efforts to tackle climate change, increase the lender’s capacity to fight poverty, and boost support to middle-income countries — including doing regional projects on cross-border challenges, in what would be a huge shift for the bank.

    Notably, the 20-page evolution roadmap obtained by Devex says the bank’s mission needs to more clearly reflect a focus on “global public goods,” such as climate change and pandemic preparedness. This would also mean stepping up support to climate-vulnerable countries, even if their income levels place them above the poverty lines for the most concessional lending.

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    More reading:

    ► Malpass: Poverty reduction and climate change are 'the same breath'

    ► David Malpass fumbled on climate. Will the World Bank get a rethink?

    ► US treasury secretary asks World Bank to think bigger and lend more

    • Banking & Finance
    • Economic Development
    • World Bank Group
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    About the author

    • Shabtai Gold

      Shabtai Gold

      Shabtai Gold is a Senior Reporter based in Washington. He covers multilateral development banks, with a focus on the World Bank, along with trends in development finance. Prior to Devex, he worked for the German Press Agency, dpa, for more than a decade, with stints in Africa, Europe, and the Middle East, before relocating to Washington to cover politics and business.

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