WASHINGTON (Reuters) - The World Bank plans to increase its funds for development by around 40 percent per year over the next decade as part of its first major realignment since 1997, the institution's president said on Tuesday.
Jim Yong Kim said the development lender will focus on 10 countries -- including India, China, Bangladesh and Democratic Republic of Congo -- that are home to 80 percent of the world's extreme poor. These residents live on less than $1.25 a day.
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