The World Bank, International Monetary Fund and other related institutions are going to meet this Wednesday to discuss further action on climate change and other global crises. They will also talk about the $5 billion expansion of World Bank lending.
Finance ministers from various countries will take part in the meeting. They will discuss ways to maintain the momentum of the multilateral banks in order to efficiently and effectively address current challenges.
Just recently, the World Bank proposed changes to its balance sheet that would allow it to lend an additional $50 billion quickly over 10 years while maintaining its top AAA credit rating. The changes are expected to be adopted by the bank's shareholders this week.
US Treasury Secretary Janet Yellen will also discuss operational changes to attract more private capital and create public-private partnerships. This is so that they could develop another way to make more progress on the banks' operating model and financial capabilities.
