CORRECTS TO SATURDAY APRIL 21, 2018-World Bank President Jim Yong Kim speaks at the panel Building Human Capital: A Project for the World, during the World Bank/IMF Spring Meetings, in Washington, Saturday, April 21, 2018. ( AP Photo/Jose Luis Magana)
WASHINGTON: The World Bank won support from its member countries for a US$13bil capital increase, with the United States dropping its objection as the lender imposes measures that would potentially reduce loans to China.
The boost will be accompanied by internal steps “including operational changes and effectiveness reforms, loan pricing measures, and other policy steps,” the World Bank said in a statement after policy makers met on Saturday in Washington.
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