11 countries pledged $11bn to increase World Bank's lending capacity by up to $70bn over a decade for climate change, pandemics, and global challenges.

11 countries, including the US, Japan, and Germany, have pledged $11bn to boost the World Bank's lending capacity by up to $70bn over a decade. The funds will be used for the Portfolio Guarantee Platform, hybrid capital mechanism, and the Livable Planet Fund, which aim to tackle climate change, pandemics, and other global challenges. If successfully leveraged, the World Bank could provide up to $70bn in urgently needed funds to address cross-border challenges and advance development goals.

April 19, 2024
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