U.S. Treasury Pushes World Bank to Unlock More Financing for Developing Countries

U.S. Treasury pushing World Bank and regional development banks to finalize new rules by April 2024 to increase lending capacity by giving more value to callable capital.

New rules could unlock significantly more financing for developing countries according to U.S. Treasury.

Treasury working on template for major shareholders to assess budget impact of callable capital commitments.

Any proposal on treatment of callable capital requires approval by each bank's shareholders.

World Bank governors expected to endorse new vision statement and reforms focused on global challenges like climate, fragility, pandemics, and poverty.